San Diego Business Journal

Local Median Home Price Up 8% for the Year in June

By Mike Allen Tuesday, July 15, 2014

The median price on house sold last month in San Diego was $450,000, up 2.3 percent from May, and up 8 percent from June 2013, according to Dataquick, the San Diego real estate research firm.

The market was much slower than last June, with only 3,736 houses sold in the county, compared with 4,048 houses sold in June 2013.

For the six county Southern California region, the median house sold for $415,000 last month, a 7.8 percent increase from a year earlier.

The biggest increase was in San Bernardino where the median for June was $240,000, up 17.6 percent from a year ago.

The largest median was in Orange County where it came in at $600,000, up 10 percent from June 2013.

Usually a time of surging home sales, Dataquick reported a 4 percent drop in sales for June compared with a year ago, making it the slowest June in the past three years.

Investor purchases have fallen off and many would-be buyers aren’t pulling the trigger because of lack of selection and affordability issues, Dataquick said.