San Diego Home Prices Increase
San Diego Home Prices
The San Diego Association of Realtors just reported that San Diego County home increased 14% — from $360,000 to $410,000 – between February 2012 and February 2013. This is the first time in two years that the median price of a home in the San Diego area crossed the $400,000 level.
San Diego condominium prices
The San Diego Association of Realtors also reported today that re-sale prices of condominiums and townhomes also jumped up over the same time period, from $198,500 to $250,000, a 26 percent increase.
With the majority of the San Diego home price increases in the lower to mid range of homes, it’s important for buyers before starting there homes search, to get a free prequalification memo from a local lender.
Also, with many homes in the entry level selling for all cash, and an extremely low inventory of available homes, the best advice for buyers is to heed the counsel of their professional Realtor in structuring their offer to purchase.
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