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NSDCAR report: Median prices steady, sales up slightly in February

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The median price for both single-family detached and single-family attached homes in San Diego County was little changed in February from January, but significantly higher than February 2013, according to the North San Diego County Association of Realtors’ HomeDex Report.

The median price of a single-family detached home in San Diego County decreased 1.05 percent to $470,000 in February from $475,000 in January, but increased 15.76 percent year-over-year, and the median price of a single-family attached home in San Diego County dropped 1.64 percent from $305,000 in January to $300,000 in February, but increased 20 percent year-over-year.

The North San Diego County single-family detached median price declined 0.88 percent to $564,000 in February from $569,500 in January, and the East San Diego County median single-family detached home price increased 0.91 percent to $387,000 in February from $383,500 in January 2014. In South County, the median single-family detached home price rose 1.25 percent to $405,000 in February from $400,000 in January, and the San Diego Metro median single-family detached home price decreased 7.94 percent from $510,000 in January to $469,500 in February.

For single-family attached units, the North San Diego County monthly median price decreased 4.72 percent to $321,083 in February from $337,500 in January, but increased 11.10 percent year-over-year. In East San Diego County the median price increased 11.94 percent to $225,000 in February from $201,000 in January and increased 51.9 percent year-over-year. And the South County median single-family attached price increased 11.36 percent to $275,000 in February from $246,950 in January, up 37.57 percent year-over-year. The San Diego Metro single-family attached median price increased 1.85 percent from $325,000 in January to $331,000 in February and increased 18.21 percent year-over-year.

The number of single-family detached homes sold in San Diego County increased 9 percent in February from January, but year-over-year sold units decreased 10.87 percent. The number of single-family attached homes sold countywide increased 3.89 percent from January, but decreased 3.34 percent year-over-year.

The HomeDex affordability index found that 33 percent of San Diego County households were able to afford the county’s median-priced single-family detached home in February, down from 43 percent in January. North San Diego County affordability remained at 26 percent, the East County single-family detached affordability level increased to 42 percent from 41 percent in January, the South San Diego County affordability decreased to 39 percent in February from 41 percent in January, and the San Diego Metro affordability increased to 33 percent from 28 percent in January.

As for single-family attached affordability, the percent of San Diego County households able to afford the median-priced home in the county increased to 59 percent in February from 50 percent in January. North San Diego County affordability increased from 50 percent in January to 52 percent in February, the East San Diego County affordability decreased from 73 percent to 67 percent, South County single-family attached affordability decreased to 59 percent in February from 63 percent in January and the San Diego Metro area affordability increased to 50 percent from 46 percent in January.

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