According to La Jolla- based MDA DataQuick, 22,328 homes were sold in the six-county Southern California region — Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties — in December, up 16.4 percent from 19,181 in November and up 12.1 percent from 19,926 in December 2008.
Home sales in San Diego County rose by 9.8 percent in December while prices increased by 10 percent.
A total of 3,652 homes sold in December, up from 3,325 for December 2008, while the median price of a home in San Diego County last month was $330,000, up from $300,000 in the same month a year ago.
Also, the data from DataQuick, showed the “flipping rate†— resales of homes within three weeks and six months of the initial purchase — was lowest in San Diego County in December at 2.4 percent and highest in San Bernardino County at 3.8 percent. The regional average was 3.1 percent. Cunningham said the lower rate in San Diego County may reflect relatively more investor interest in foreclosure properties elsewhere.
We are facing turbulent times with the credit crunch / liquidity crisis, a recession, hedge funds collapsing, small & large banks experiencing major loses and the ups and downs of the bond and stock markets.
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The only reason median home price is rising…..rich folks are getting out of dodge!! Have you looked at La Jolla Lately? The map of homes for sale is insane! There are so many million dollar plus homes for sale, it’s hard to even see the map. A few of those sell and up goes the median. What a joke. Pricing is about to get slammed and real estate agents know it! We are headed back YEARS in pricing. Do not believe this crap.