According to DataQuick of La jolla, San Diego home prices for August fell by 7.1 % vs August 2008. The good news is that home sales in San Diego County rose by 5 percent in August, compared to the same month a year ago.
According to DataQuick, 21,502 homes were sold in the six-county Southern California region in August, down 10.8 percent from 24,104 in July and up 11 percent from August 2008.
The median price of a Southern California home was $275,000 in August, up 2.6 percent from $268,000 in July but down 16.7 percent from $330,000 in August 2008.
The steepest year-to-year price declines were in San Bernardino County, which saw its median drop 32.6% to $145,000, and in Riverside County, where the median last month was down 23.2% to $190,000.                                                                                                                                                              Little Italy San Diego condos
Individual home sellers have fewer profit margins than home builders; so, if a home cannot appraise for a higher value, then a seller might remain put.
San Diego California real estate agents