Recent SD Real Estate Slump Over For Now
Median Sales Price For Homes Jumps 7.2 Percent From February
POSTED: 10:54 am PDT April 11, 2011
SAN DIEGO -- A two-month slump in residential real estate sales in San Diego County came to an end in March, but the numbers remain down compared to last year
Sales of single-family homes and condominiums climbed 36 percent last month compared to February, a report from the San Diego Association of Realtors shows.
The median sales price of a house in March was $385,000, a jump of 7.2 percent from February, according to the SDAR figures. The average condo cost $210,000, a 3.4 percent hike.
"The March sales numbers are just what we hoped for and expected heading into spring," said Bob Kevane, the president of the association.
But the increases were not enough to offset the effect of the slump when comparing the statistics to 2010.
In the first three months of this year, sales of houses were down 4 percent compared to the first quarter of last year, and there was a 9.5 percent drop in purchases of condos.
The median sales price of a single-family home in the January-March period this year was $370,000 -- down from $375,000 in the same time in 2010.
For condos, the first quarter median sales price in 2011 was $205,000, compared to $215,000 in the first three months last year.
Copyright 2011 by City News Service. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
The following are comments from our users. Opinions expressed are neither created nor endorsed by 10News.com. By posting a comment you agree to accept our
Terms of Use. Comments are moderated by the community. To report an offensive or otherwise inappropriate comment, click the "Flag" link that appears beneath that comment. Comments that are flagged by a set number of users will be automatically removed.
Posted via email from mikecaltitle's posterous
