Single-family home median price rises to $490,000 – highest since Dec. 2007
SAN DIEGO – Single-family home sales surged in San Diego County last month – a 32 percent increase over the previous month – and median prices continued to climb, according to new housing statistics from the Greater San Diego Association of REALTORS® (SDAR).
The median price of single-family resale homes increased to $490,000 last month – the highest recorded by SDAR since December 2007. It represents a 4 percent hike over February and a 13 percent hike from a year ago. The median price of all properties, including condominiums, in the first quarter of 2014 increased more than 14 percent compared to last year.
“I’m very encouraged by all the numbers from March,” said SDAR 2014 President Leslie Kilpatrick. “We expected more activity in the spring months, and it sure looks like we’re off to a good start. It’s also quite a milestone when the median value of single-family homes approaches $500,000.”
In March, the zip codes with the most sales of single-family homes were: 92128 (Rancho Bernardo) with 48; 92028 (Fallbrook) with 47; 92065 (Ramona) with 45; 92027 (Escondido) with 41; and 91977 (Spring Valley) with 39.
The most expensive San Diego County listing sold last month: A 4-bedroom, 6-bath, 6,350-square-foot home in Encinitas that sold for $10.5 million.
SDAR’s housing statistics are compiled monthly from the Multiple Listing Service (MLS). Click here for a detailed look at the numbers. Here is a summary:
MEDIAN SALES PRICE Comparing March 2014 to February 2014
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With roughly 12,000 members, the Greater San Diego Association of REALTORS® is the largest trade association in the county. Our REALTORS® adhere to a code of ethics and professional standards above and beyond the norm. We help our members sell more homes. We help people realize the dream of home ownership. And we are dedicated to protecting private property rights. You can follow SDAR on Facebook, Twitter and YouTube.