San Diego Home Prices Take A Huge Fall

San Diego home values

National Association of Realtors just reported San Diego County home prices dropped 29.6 percent in the first quarter of 2009 vs. the first quarter of 2008. The report showed the resale median price for San Diego single-family homes was $323,200 vs. $459,000 in the first quarter of last year.

According to the National Association of Realtors figures, San Diego is down 46.3 percent from 2006, compared with a national decline of 23.8 percent over the same period. One should keep in mind, that I and many other San Diego Realtors feel the top of our real estate market was the summer of 2005.

Some good news from this report was that real estate sales more than doubled in Nevada, rose 81 percent in California and grew 50 percent in Arizona. Increasing real estate sales may be the first sign that a bottom to falling real estate home values is in sight.       downtown San Diego real estate