The number of area home sales dropped in January even as home prices rose slightly, according to data released Friday by the Greater San Diego Association of Realtors.
Single-family home sales fell by 24% compared to December 2019 and were down nearly 30% for attached properties such as condominiums and townhomes. But when compared to January 2019, sales were up 6% for single-family homes and 18% for attached properties.
The median price of a single-family home in January was $670,000 -- up 1.5% from December and more than 9% higher than January 2019. The median price of attached properties was unchanged from $440,000 in December but was up 7% from the year-ago period.
"Buyer demand remains healthy, as San Diegans see low-interest rates, low unemployment and, perhaps most significantly, rising rents," said GSDAR President Carla Farley. "This sets us up for a strong start to the 2020 housing market."
The zip codes with most single-family sales tended to be more rural and suburban, such as Fallbrook, Ramona, Spring Valley and Escondido and Oceanside north zip codes.
The most expensive property sold in January was a Ken Ronchetti-designed home on its own sea bluff in La Jolla Farms, built in 2003. The 8,627- square-foot home, which has five bedrooms and seven bathrooms, fetched $15.25 million.
