SD County, Lemon Grove Home Prices Increase

The median sales price of a single-family home in San Diego County reached $450,000 last month for the first time in five years, the San Diego Association of Realtors announced Tuesday.

"If there was any lingering doubt about the real estate comeback, these numbers should put that doubt to rest," said Linda Lee, SDAR's president. "The increase in price means more people will put their homes on the market, which is great news for buyers."

The $450,000 mark is 23 percent higher than April 2012 and four percent above the median price in March, according to the SDAR. It hasn't been that high since January 2008, when it was $475,000.

About 3 percent more houses sold last month, compared to the same month the year before.

The SDAR reported that the median price of $288,500 for condominiums and townhomes was up 37 percent over April of last year, and slightly over that of March this year. The number of sales for multi-family housing was down 3 percent compared to April 2012.

Properties are remaining on the market for an average of about two months, according to the SDAR.

In Lemon Grove, the number of homes sold in April was 18, a decrease from the 25 sold at the same time in 2012, according to data on the SDAR website. The median price of homes saw an increase from year to year.

The median price was $272,000 last month, compared to $235,000 in April 2012, according to the data.

The average days "for sale" signs were posted on the lawns of Lemon Grove homes increased by 12 days from the same time period last year.

Single Family Detatched

As for condo sales, the average days on the market decreased significantly from the same time in 2012.

The number of condos sold decreased by one last month from April 2012. 

The median price decreased to $100,000 in April, down from $111,000 at the same time last year.

Attached Housing

City News Service contributed to this report.