San Diego Real Estate Rises in Price

In the month of September, prices increased 20 percent on San Diego real estate according to an article in Patch.com. However in September 2012, the average home was on the market for 84 days, while last month San Diego real estate stayed on the market for 45 days.

According to the Greater San Diego Association of Realtors, the median price of a single-family home was nearly $487,000. Over 1,700 San Diego real estate properties were sold in San Diego County in September.

This may be why San Diego real estate decreased in sales last month. There are 20 percent fewer homes that were turned over than that of August according to Sandiego6.com.

On the other hand, the median price of August was $305,000 for attached San Diego Real Estate. The foresaid price is 1.6 percent less than in July according to the San Diego Association of Realtors. Condominium and townhouse sales were down almost 17 percent compared to August.

So as it is clearly stated earlier, the long-term market comparison to 2012 is quite lucrative. Like that of the homes rising to 20 percent higher in 2013 than the prior year, condominium prices sky rocketed to 27 percent higher in 2013.

The trend according to Sandiego6.com, is buying condominiums in 2013. In September, the numbers displayed that San Diego Real Estate was down 7.7 percent when compared to September 2012, while condos’ comparison to the previous year was up to 8.7 percent.

In the first nine months of this year, the median price was only at $292,900, rising nearly to a 32 percent rise since 2012. The reason for the median price increase was due to more than 8,900 San Diego Real Estate properties being sold. This displayed the 7.5 percent rise in price.

Detached homes showed similar success in the first nine months as San Diego Realtors sold over 19,000 homes which marked a 2.9 percent hike.

By Linda Moore

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