San Diego Home Prices decline

Today,  a report released by the San Diego Association of Realtors, showed a total of 1,609 single-family homes were sold last month, this figure was down 15.6 percent from November 2012, and 11.3 percent below October.

For attached homes sold in November were 761, down 19.4 percent from the same month last year, and 9.6 percent below October’s sales amount.

The median cost of a single-family house in the region was $469,000, down 1.3 percent from October. But, this cost was 15 percent higher than November 2012. Plus, the median price of a San Diego house for the first 11 months of this year was $455,000, nearly 20 percent above the first 11 months of 2012.

Condominiums and townhouses saw their median sales price in November move up 4.7 percent over the October, and jump of 19.2 percent from November 2012.

The year-to-date median price of an attached home is $295,000, a 30.5 percent hike over the same period last year.

Could November’s San Diego real estate declines be the first signs of a bust for our mini- San Diego real estate bubble?

San Diego Home Prices