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Prices Remain Stable, Higher Than a Year Ago, According to Greater San Diego Association of REALTORS(R)

Home Sales Saw a Seasonal Drop in January

SAN DIEGO, CA -- (Marketwired) -- 02/10/14 -- Although home sales saw a seasonal drop in January, prices remained stable and much higher than a year ago, according to the regional housing statistics from the Greater San Diego Association of REALTORS® (SDAR).

Sales of existing homes in San Diego County dropped in January compared to December, a seasonal, after-the-holidays slump. Single-family homes saw a month-over-month drop of 22 percent, and were 21 percent lower than a year ago. 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 -- virtually unchanged from December, but 22 percent higher than a year ago. The median price of condos and townhomes sold in January 2014 increased by about 2 percent over the previous month, and is 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: A 4-bedroom, 5-bath, 4,500-square-foot home in La Jolla that sold for $7.8 million.

SDAR's housing statistics are compiled monthly from the Multiple Listing Service (MLS). Click here for a detailed look at the numbers. Here is a summary:

MEDIAN SALES PRICE Comparing January 2014 to December 2013

  • Single-Family: 1 percent DECREASE
    January 2014 = $475,000
    December 2013 = $478,500
  • Condos/Townhomes: 2 percent INCREASE
    January 2014 = $305,000
    December 2013 = $300,000

MEDIAN SALES PRICE Comparing January 2014 to January 2013

  • Single-Family: 22 percent INCREASE
    January 2014 = $475,000
    January 2013 = $390,000
  • Condos/Townhomes: 24 percent INCREASE
    January 2014 = $305,000
    January 2013 = $245,000

TOTAL SOLD LISTINGS Comparing January 2014 to December 2013

  • Single-Family: 23 percent DECREASE
    January 2014 = 1,231
    December 2013 = 1,591
  • Condos/Townhomes: 16 percent DECREASE
    January 2014 = 683
    December 2013 = 809

TOTAL SOLD LISTINGS Comparing January 2014 to January 2013

  • Single-Family: 21 percent DECREASE
    January 2014 = 1,231
    January 2013 = 1,559
  • Condos/Townhomes: 1 percent INCREASE
    January 2014 = 683
    January 2013 = 673

With roughly 12,000 members, the Greater San Diego Association of REALTORS® is the largest trade association in the county. Our REALTORS®adhere to a code of ethics and professional standards above and beyond the norm. We help our members sell more homes. We help people realize the dream of home ownership. And we are dedicated to protecting private property rights. You can follow SDAR on Facebook, Twitter and YouTube.

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