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Single family homes sold in San Diego County up 34 percent, prices increase as well

Friday, November 9th, 2012
Issue 45, Volume 16.
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SAN DIEGO - The number of single-family homes sold in San Diego County last month was up 34 percent from the same period in 2011, and prices also increased, according to the San Diego Association of Realtors.

SDAR's monthly statistics show that 2,071 houses were sold in October, compared to 1,546 in the year-ago period, while condominium and townhouse sales totaled 882 -- up 18.2 percent over the same month in 2011.

The totals are below those of late spring and summer, which are the traditional high time for the real estate market.

For single-family homes, the October 2012 median price was $400,000, compared to $355,000 in the same month of 2011. That's a 12.7 percent hike.

For multifamily housing, the median price last month was $246,000. In October of last year, it was $207,000, for a jump of 18.6 percent.

"There's really only positive, encouraging news in these new numbers," SDAR board President Donna Sanfilippo said. "You can't help but feel good about what we're seeing in the San Diego County real estate market."

She said a recent clinic for prospective first-time home buyers was standing-room only.

SDAR figures also showed that the number of active listings has steadily declined in the past year from just over 9,000 properties to a bit over 5,000.



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