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January home prices down from Dec., up from '12

Home resales saw a seasonal drop in January, but prices remain higher than they were a year ago, according to a monthly report from the Greater San Diego Association of Realtors (SDAR).

In San Diego County, the median price of previously owned single-family homes was $390,000 in January, down 7 percent from December and up 12 percent from January 2012.

The median price of existing condos and townhomes in January fell 3 percent from December and were up 17 percent from January 2012.

Resales of existing homes dropped 22 percent in January compared to December.

However, sales were higher than the previous January: 15 percent for single-family homes and 8 percent for condos/townhomes.

The average number of days previously owned homes remained on the market fell by 25 days when compared to January 2012.

Home resales were strongest in Chula Vista, where 137 single-family homes were sold in the 91910, 91911, 91913, 91914 and 91915 zip codes last month.

The zip codes with the most single-family resales in January were: 92071/Santee, 45 sold listings; 92026/Escondido, 43 sold listings; 92028/Fallbrook, 43 sold listings; 92114/Encanto, 43 sold listings; and 92057/Oceanside, 42 sold listings.

The most expensive San Diego County listing sold last month was $6,995,000 for a five-bedroom, five-bath, 9,605 square-foot home in Rancho Santa Fe.

“I firmly believe 2013 is going to be a great year for real estate, and I’m really pleased to see signs of that in these numbers,” said Linda Lee, SDAR’s board president. “Interest rates remain extremely low and more inventory is entering the market. It’s an encouraging time.”

SDAR’s housing statistics are compiled from the Multiple Listing Service.

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San Diego Association of Realtors

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4845 Ronson Ct.
Kearny Mesa, CA 92111

San Diego Association of Realtors Executive(s):

David Cabot

  • President

Mark Marquez

  • President

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