The number of active listings in San Diego County on the Multiple Listing Service surpassed 7,000 for the first time in two years last month, and the median price of a resold single-family home reached $500,000 for the first time since 2007.
According to a Greater San Diego Association of Realtors report, the $500,000 median price in May was 1.83 percent higher than April and 7.29 percent higher than May 2013.
Condominium and townhome prices edged up slightly to $335,000 between April and May 2014.
While the resale of single-family homes dropped by 14 percent year-over-year, the SDAR reported this isn't due to a lack of demand, but because of a lack of supply.
Resold single-family homes, which were on the market for about 90 days or more during the recession, are closing in 40 days.
"The market will experience month-to-month variances, but the housing market in San Diego remains strong," SDAR 2014 President Leslie Kilpatrick said in a statement. "More homes are on the market and buyers are scooping them up quickly. That's an encouraging sign."
In June, the ZIP codes in San Diego County with the most single-family home sales were: 92057 (Oceanside), with 56; 92027 (Escondido) with 52; 92130 (Carmel Valley), with 49; 92028 (Fallbrook), with 48; and 92009 (Carlsbad), with 48.
The most expensive San Diego County listing sold last month was a six-bedroom, seven-bath, 7,228-square-foot home in Coronado that sold for $10.5 million.
