Mixed News on Home Sales from Realtors

San Diego’s residential market is currently growing at a steady pace, above the national rate. Data released by the Greater San Diego Association of Realtors highlighted the improvement of the city’s median home price. Single-family assets traded on average for two percent more than in April, and around seven percent more than in May 2014.

Home prices in the San Diego region are growing steadily, outpacing the nation as a whole. Data released by the Greater San Diego Association of Realtors highlights the improvement; single-family assets traded on average for two percent more in May than they did in April, and around seven percent more than in May 2014.

San Diego Association of RealtorsThe median home price in the San Diego metro was about $530,000 in May.  A 57-year-old, 6-bedroom home in Del Mar commanded $11 million, the highest price paid last month for a single-family home in the county. Fallbrook recorded 69 transactions, the most of any submarket in the region.

However, sales volume decreased by around 10 percent compared to April. SDAR pointed out that 2,091 homes traded hands in May, a 4 percent drop from May 2014.

Prices for condos and townhomes increased 2 percent from May to April and about 6 percent year over year. The median sales price for condos and townhomes in San Diego County stands at around $348,000. In terms of volume, fewer units traded in May than in April, but the number of sales was up 3 percent compared to May 2014.