Real Estate
Poway Helps Set Pace in Hot San Diego County Housing Market
North inland areas like Ramona and Rancho Bernardo keep pace in May in the midst of a county-wide price boom.
If you're interested in buying or selling your home, these facts from May should tell you a lot – the market is gaining ground fast.
- The median price of a single-family home in San Diego County was $466,000 in May, up 22.6 percent from a year ago and 3.6 percent higher than April, the San Diego Association of Realtors reported online.
- More than 2,400 houses were sold last month, up 15.5 percent from April and 10.2 percent from May last year.
- The number of days a house spent on the market dropped by nearly one-third in the first five months of this year, compared to the same time last year.
- In Rancho Bernardo, the average median price across the community's two zip codes was $713,625, up from the year-to-date trend and nearly 24 percent as compared to May 2012; 117 homes sold last month.Â
- In Poway, the median price for May was $652,500, more than 10 percent above the year-to-date pace and a notable 31 percent above the May 2012 numbers; 62 homes sold during the month.
- In Ramona, where 42 homes sold in May, the median price was up slightly to nearly $358,000, which was nearly 20 percent more than the May 2012 median. Â
As far as condominiums and townhouses, the median price in the county was $305,500 in May, up 32.8 percent from the same period a year ago and 5.9 percent from April.
In May, more than 1,000 condos or town homes changed hands – a 9.6 percent hike from the same month last year.
– City News Service contributed to this report.
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