San Diego Business Journal

San Diego’s Median Home Price Rises in December

Thursday, January 17, 2013

San Diego’s median priced home was $366,000 in December, up 16 percent from the prior year’s December, and 2 percent above the median price for the county in November, according to the latest report from Dataquick, a San Diego-based real estate research firm.

Five other Southern California counties showed similar double-digit gains over the year, lending more evidence to a clear-cut housing recovery last year.

For the entire region, the median priced home was $323,000 in December, up nearly 20 percent from the prior year’s December.

For the past four consecutive months, the regional median price has been at its highest point since August 2008 when it was $330,000.

John Walsh, Dataquick’s president, said the regional housing market did better than many anticipated last year.

“A lot of markets not only found a price bottom as foreclosures waned, but they started to see their first meaningful gains in nearly two years.”

In December, 3,757 houses were sold in San Diego County, up 13.5 percent from December 2011.

As was the case for the past several months, sales are rising for houses within the $300,000 to $800,000 range, indicating a trend in move-up buying, Dataquick said.

For the entire region, sales of houses above $500,000 rose 40 percent year- over- year, while sales of houses above $800,000 increased 36 percent.

Buyers paying cash made up 33.8 percent of last month’s total sales, tying a record for cash buying that was set in November.

--SDBJ Staff Report