San Diego Home Values

The median price for new and existing houses and condos reached $295,000 in May, up 5.4 percent from $280,000 the same period last year. This marked the second straight month that the price increased from a year earlier, following 13 straight year-on-year declines. It was also the highest median price since $295,500 in September 2010.

The number of Southern California homes sold in May for less than $200,000 rose 7 percent from a year earlier, while the number that sold for $200,000 to $400,000 increased 18.9 percent. Sales between $300,000 and $800,000 jumped 23.1 percent, and sales over $800,000 rose 11.8 percent.

San Diego Home Sales

Personally, the second part of the Dataquick report, I believe, was more important than the median price increase. This part of the report showed that the number of homes sold in the six-county Southern California region jumped 20.6 percent from last year!

San Diego Home Values – Of the Past

Now for a dose of real estate reality; the Dataquick report also showed the Southern California median price is still more than 40 percent below its peak of $505,000 in the middle of 2007!

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