San Diego County Real Estate Update - March 2008
Posted on Apr 28th, 2008
Sales of single-family, re-sale homes rose 15.4% from February, reaching the highest level since last August. Year-over-year, home sales were off 33.2%.
The median price for single-family, re-sale homes in San Diego County was flat in March at $440,000. Year-over-year, the median price of homes was down 24.1%. The average price for homes rose 5.2% from February, off 15.1% year-over-year.
Condo sales gained 17.5%, month-over-month, down 37.2% compared to last March.
The median price for condos was also flat at $295,000, off 21.3% year-over-year. The average price for condos fell 0.2% month-over-month, down 14.8% compared to last March.
Remember, these are statistical prices. When the market was going up, the large number of million dollar plus sales skewed prices upward. With the large number of bank-owned properties going through the system, prices are being skewed downward.
