69.8 F
San Diego
Monday, Sep 26, 2022
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Median Home Price Hits $472,000

Although the median price of a home in San Diego County continued to increase last month, the rate of increase was the lowest of all counties in Southern California, according to La Jolla-based DataQuick Information Systems, a real estate information service.

The report also showed the number of new and resale homes sold in San Diego County last month declined more than 12 percent vs. the same month last year, for the biggest drop in the region.

The median price paid for a San Diego home was $472,000 last month vs. $406,000 in February 2004, for an increase of 16.3 percent. San Diego showed the least annual price increase of all counties in Southern California, where the average year-over-year median home price increase was 21.1 percent. Last month, San Diego’s median home price was also 1.3 percent lower than it was in January, when it came in at $478,000.

The median price paid in Southern California was $425,000, last month, a record. As of February, year-over-year home price increases in Southern California have been greater than 20 percent for 13 months in a row.

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The most pronounced increase in home prices occurred in San Bernardino, where the median price of a home rose more than 41 percent, from $207,000 in February 2004 to $292,000 last month.

The number of homes sold in San Diego last month slowed. In February, 3,442 homes were sold vs. 3,927 during the same month last year, a decrease of 12.4 percent. In the Southern California region as a whole, sales were down 7 percent from 23,004 in February 2004 to 21,394 in February 2005.

Heather Bergman

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