San Diego Home Prices Rise

Bob Schwartz, San Diego real estate broker

San Diego County home prices increased 2.4% in April as compared to a year ago. But in my opinion, more importantly, San Diego County home sales increased by 8.6% last month!

San Diego Home Prices

Compared to April 2011 when home sales in San Diego County were at 3,277. Last month. 3,559 homes were sold in San Diego County. According to the real estate reporting company Dataquick (located here in San Diego), the median price in San Diego County for April 2012 was $329,500 versus $321,750 4 April 2011!

Again, according to Dataquick, 19,282 new and resale houses and condos were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties during April 2012. That sales figure was off by 3.4% from March 2012, but it was up 5.1% from April 2011!

For Southern California the median sales price was $290,000 in April 2012, which was up 3.6% from April 2011.

San Diego Home Prices

In my December 31, 2011 real estate blog post entitled San Diego Real Estate Market 2012 Outlook, I stated:  “I’m calling for, to be precise, the continued modest decline in San Diego resale home prices through at least the first half of 2012. Naturally, barring some major detrimental economic news either here or in Europe, I think the second half of 2012 could see some solid base building, with perhaps, some modest single-digit appreciation by year’s end.” Well, it looks like my forecast is again turning out to be correct; I just may have been off by one month.

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