Home sales saw a seasonal drop in January, while prices remained stable from the previous month but up 22 percent from 2013, according to the regional housing statistics from the Greater San Diego Association of Realtors (SDAR).
Single-family homes saw a month-over-month drop in sales of 22 percent to 1,231, and which was 21 percent lower than January 2013 when there were 1,559 sales.
Condos and townhomes also saw a drop of 16 percent from December, but the number of sales was comparable to a year ago.
The median price of previously owned single-family homes in San Diego County was $475,000 last month, down from $478,500 in December, but 22 percent higher than January 2013 when the median price was $390,000.
The median price of condos and townhomes sold in January 2014 increased by about 2 percent over the previous month, and were up more than 24 percent from a year ago.
“We are still waiting for inventory to pick up,” said 2014 SDAR President Leslie Kilpatrick. “Sales have been slow, but I expect more sellers to jump into the market as we approach the spring buying season. My mantra has always been, ‘The best time to buy is when you can.’”
In January, the zip codes with the most sales of single-family homes included: 92028/Fallbrook – 42, 91911/Chula Vista – 32, 92071/Santee – 31, 92114/Encanto – 29 and 92130/Carmel Valley – 29.
The most expensive San Diego County listing sold last month was a four-bedroom, five-bath and 4,500-square-foot home in La Jolla that sold for $7.8 million.
4845 Ronson Ct., 330
San Diego, CA 92111
Nov. 20 1014 -- George Chamberlin speaks with Dr. Lynn Reaser, chief economist for Point Loma Nazarene University at the Fermanian Business & Economic Institute, and Leslie Kilpatrick, 2014 president of the Greater San Diego Association of Realtors, about recovery in the local real estate market.
June 26, 2104 -- George Chamberlin speaks with Leslie Kilpatrick, president of the Greater San Diego Association of Realtors, and Donald Coleman, vice president of real estate member experience for USE Credit Union, about what's happening in the residential real estate market and the role a credit union can play in buying a home.
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.