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Home sales down while prices climb

Home resales in San Diego County dropped in September, while prices have been climbing, according to a Greater San Diego Association of Realtors report.

Single-family home sales decreased 20 percent compared to the previous month, and nearly 8 percent from a year ago. Attached home sales saw a drop of nearly 17 percent compared to the previous month, but are up nearly 9 percent from last year.

The median price of single-family homes sold stood at $486,500 in September, up about a percent from August and 20 percent higher than September 2012. Condos and townhomes saw a September median price of $305,000, down somewhat from August but up 27 percent year-over year.

More than 7,000 homes and condos are for sale in San Diego County. It’s been a year and a half since inventory levels have been that high. On average, resale properties are on the market a month and a half before closing escrow.

“We typically see a drop in sales after the summer selling months, which were really strong,” said Linda Lee, SDAR’s board president in a statement. “I’m very encouraged by the inventory levels. The market has room for more homes but these new inventory figures are really nice to see, especially for buyers.”

In September, the ZIP codes with the most sales of single-family homes included 92057 in Oceanside with 51; 92028 in Fallbrook with 44; 92127 in Carmel Mountain Ranch with 43; 92128 in Rancho Bernardo with 42; and 92064 in Poway with 42.

The most expensive San Diego County listing that sold last month was a 6-bedroom, 8-bath, 14,800-square-foot La Jolla home that sold for $18.5 million.

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Greater San Diego Association of Realtors

Company Website

4845 Ronson Ct., 330
San Diego, CA 92111

Greater San Diego Association of Realtors Executive(s):

Linda Lee

  • 2013 President

Leslie Kilpatrick

  • Board President

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