San Diego home prices are at 4-year high
“Home prices in San Diego County, still far from their pre-recession peaks, have risen to their highest level in four years, Tuesday’s DataQuick report shows. Home sales, which went through a five-month positive streak, have dropped.
The median price for all homes sold in July was $342,000. That’s the highest it’s been since August 2008, when the economy was in the dumps and the local median price was $350,000. The county peaked at $517,500 in November 2005.
July’s median price increased 1.9 percent from $335,500 recorded in June, and up 5.2 percent from the same time last year. Price boosts were most evident among condo resales. All five regions of the county saw price increases from a year ago. The hottest area was central San Diego, where the median price rose from $226,750 to $267,000, or nearly 18 percent.
The county recorded 3,565 sales in July, marking the first sales drop in five months. Transactions fell 5.1 percent from June, but they’re 17.2 percent higher than a year ago…”
Read the original article by Lily Leung at U~T San Diego here: “San Diego home prices are at 4-year high”.