Home Sales Down, Prices Up In San Diego Region

SAN DIEGO, CA: The San Diego region's real estate market posted gains in March, following a few lackluster months, but the number of sales of houses and condominiums still trailed the same month last year, data released Thursday shows.

According to the San Diego Association of Realtors, 1,885 single-family homes changed hands last month, up 33 percent over the month before. The total, however, is 7 percent fewer than March 2015.

For condos and townhouses, 998 sold in March, up 26 percent from February but 1 percent below the same period last year.

The median sales price of houses last month was $551,000, 5 percent higher than the month before and up 7 percent over March 2015, SDAR reported. The median sales price of condos was $360,000, 3 percent more than February and 4 percent over March last year.

"Spring is an exciting time for the real estate industry in San Diego and, frankly, throughout the country," said SDAR President Cory Shepard. "The stability of the market should encourage even stronger sales figures, steady appreciation and more buyers looking to be home owners."

SDAR reported that one of the most expensive condominiums in San Diego County history was sold last month — a three-bedroom, 4,400-square-foot penthouse on Harbor Drive downtown, with a sale price of $6.275 million.

The most expensive single-family home sold in March was a three-bedroom, four-bath, 1,840-square-foot home in the Beach Colony neighborhood of Del Mar, built in 2012, with a sale price of $10.8 million.

—City News Service

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