San Diego Home Prices Rose 20% in September

The median price of an existing single-family home sold in San Diego County was 20% higher in September than a year ago, the Greater San Diego Association of Realtors reported.

The Realtors' latest report showed that 1,742 homes were sold throughout the county in September. The median price was $486,500.

The median is the price at which half of the homes sold for more and half sold for less. It is a better measure of a typical home price than the average, which can be skewed a handful of expensive homes.

Homes that sold in September were on the market an average of 45 days, down from 84 days a year ago, the Realtors said.

Prices for condominiums and townhouses fells slightly, by 2% to $305,000 in September.