San Diego Home Prices Increased In December
The number of houses and condominiums that changed hands last month in the San Diego region was lower than the year-ago period, but sales prices were higher, the San Diego Association of Realtors reported Friday.
According to the SDAR data, 1,620 single-family homes were sold last month, down 7 percent from December 2013, but up 11 percent from the month before.
For condos and townhouses, 764 sales were recorded — 13 percent fewer than December 2013, but 5 percent higher than the sales total for November 2014, the organization reported.
The median sales price of a house last month was $499,000, 2 percent higher than November and 5 percent above December of the previous year.
For condos and townhomes, the median cost in December was $330,000, 2 percent more than the month before and 10 percent above the prior year at the same time.
"I think you will see more homes on the market this year and I think San Diegans can expect to see home values rise at a healthy level," said Chris Anderson, the SDAR board president. "Interest rates are expected to increase slightly this year. That should boost inventory levels and drive sales."
The most expensive sale in the county last month was a three-bedroom, three-bath, 2,500-square-foot beachfront home in Solana Beach at $8.75 million.