Homes Sales Continue To Fall In San Diego Region

SAN DIEGO COUNTY, CA – The number of homes that changed owners in the San Diego region continued to fall last month, though the median sales price continued to climb, a Realtors group announced Wednesday.

The San Diego Association of Realtors reported that 2,011 single-family homes were sold in July, 20 percent less than June and 10 percent below the same month last year. The median sales price of a house in the region was $620,000, 1 percent above the month before and 11 percent above July 2016.

For attached homes like condominiums and townhouses, 1,075 changed hands in July, 14 percent fewer than the previous month and 7 percent under last July's figure. The median condo sales price was $405,000, 1 percent lower than June but 7 percent above the cost in July 2016.

"We are predominantly in a seller's market," said SDAR President Bob Kevane. "Savvy buyers, and particularly first-time buyers, will need to scramble and be purchase-ready, as they are faced with competing offers, sometimes over the asking price."

The most expensive property sold last month was a recently remodeled 3,500-square-foot oceanfront home in Encinitas featuring four bedrooms and five baths, at a price of nearly $8 million.

By City News Service / Image via Shutterstock