A report from the San Diego Association of Realtors shows that in the first three months of this year, home sales were down 4 percent compared to the first quarter of last year, but, even more troubling was a 9.5 percent drop in condominium sales for the same period.
What little good San Diego real estate news in this report was that sales of single-family homes and condominiums climbed 36 percent last month compared to February!
Plus, the median sales price of a San Diego house in March was $385,000, an increase of 7.2 percent from February, for San Diego condominiums, the average cost was $210,000, a 3.4 percent hike.
Though the real estate industry will play up the monthly increases, the fact the both home and condo sales were down vs. 2010 is an ominous sign, as home sales usually lead the home prices.
