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Most San Diego ZIP codes show median price increase from '09

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Out of 38 ZIP codes that each accounted for at least 1 percent of San Diego County's resold detached homes in March, five had median home prices slide in the past year -- a contrast to March 2009 when all but one of those ZIP codes was in the red from 2008.

In a report produced by the San Diego Association of Realtors (SDAR), the five ZIP codes located in Carmel Valley, San Marcos, El Cajon, Chula Vista and Ramona were the only ones to have their March median price of homes sold decrease from March 2009.

The median price for a detached home sold in San Diego has been between $360,000 and $397,000 since last June, something Mark Marquez, the president of SDAR said is a sign of stability.

"I think the that people in California can qualify for both (state and federal) tax credits is helping the market, but when I poll the agents in my office they say their clients would be interested in buying homes even without them," Marquez said.

The top five ZIP codes in terms of price increases year-over-year were two ZIP codes in Escondido, and then one ZIP code each in Clairemont, National City and Poway.

Of those ZIP codes, only Poway had a higher number of home resales last month than in March 2009.

Carlsbad, Rancho Bernardo, Rancho Penasquitos, Encinitas, Carmel Valley and Poway saw the biggest percentage increase in resales from March 2009 to 2010.

All of those ZIP codes have median prices over $500,000.

"Over 500 (thousand dollars) is healthy, but when you get over 1 million (dollars) you start to have a lot of choices," said Marquez.

There were 1,733 detached homes sold throughout San Diego County in March. The median price for a detached home was $397,000.

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