• News
  • SAN DIEGO
  • Real Estate

SDAR: Single-family homes selling for 17% more than a year ago

The most recent local housing statistics show median prices of resale properties continue to climb, according to the Greater San Diego Association of Realtors (SDAR).

The median price of single-family (detached) homes in San Diego County was $408,000 in November 2012, up 2 percent from the previous month and 17 percent higher than November 2011. November resales of condos and townhomes (attached properties) were up 6 percent from October and 27 percent higher than November 2011. Year to date, median prices of all existing properties are up 6 percent compared to 2011.

The number of sales of existing homes dropped in November as inventory remains at historic lows. Single-family home sales were down 13 percent from the previous month, and condos/townhomes sales were down 5 percent. However, the number of resales rose compared to a year ago, and year to date they are up 12 percent compared to 2011.

“The competition for resale homes is fierce because inventories are so low,” SDAR Board President Donna Sanfilippo said. “We’re seeing multiple offers on homes across the county and median prices are being driven up as a result. Sellers should take heart. The local real estate market simply needs more homeowners to take advantage of this extraordinary chance to move up to the home they’ve always wanted.”

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

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

User Response
0 UserComments

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

San Diego Association of Realtors

Company Website

4845 Ronson Ct.
Kearny Mesa, CA 92111

San Diego Association of Realtors Executive(s):

David Cabot

  • President

Mark Marquez

  • President

Related Videos

Linda Lee: China looking to invest in quality U.S. properties

March 29, 2012 -- George Chamberlin talks to Linda Lee, a broker with Keller Williams San Diego Metro, about China's interest in investing in the U.S. real estate market.

Subscribe Today!