La Jolla, California-based DataQuick said today in a press release that the number of homes sold in Southern California fell 22 percent last month from a year earlier, to the lowest number in a December in 11 years, even as the median price for a home sold in the region reached a new high,
A total of 22,485 new and existing single-family houses and condominium units were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month, down from 28,952 a year earlier,. Last month's sales figure was the lowest for any December since 1995, when 19,202 homes were sold.
Prices rose last month in every county except Ventura, where they dropped 5.9 percent, and San Diego, where they fell 6.4 percent. San Diego County's home sales began to decline 19 months ago, and its median price peaked in November 2005 at $518,000, DataQuick said. The county's median price last month was $483,000. The monthly mortgage payment on a median-priced home in Southern California at current interest rates was $2,265 last month, the same as in the previous month and up from $2,255 a year earlier, according to DataQuick. [tags] San Diego home prices, real estate, California real estate, real estate market, home values, home sales, real estate values, housing market, CA housing, CA home sales[/tags] San Diego real estate homes
Downtown San Diego condos are really suffering. I hope we will soon be at a bottom.
Larry
Invest in Texas real estate. It’s the HOT real estate market now!
Lawman
Buyers and sellers are cautioned to keep tabs on sales and prices of
all homes. As spring approaches with its seasonally more active
market, a clearer picture of the spotty market should emerge — for
better or for worse.
In the long term real estate always bounces back and people should take advantage of these slow periods if they really want to get a good return on their investments.
Brittany
San Diego California Real Estate Agents