66.7 F
San Diego
Sunday, Jul 14, 2024
-Advertisement-

Median Home Price Hits $500K

The median price of a home sold in San Diego County , including condominiums, townhomes and detached housing , reached the half-million-dollar mark, for the first time in December.

The San Diego Association of Realtors said the median price of attached and detached homes was $500,000, up 19 percent from the median sale price in December 2003.

On Jan. 11, the association reported 2,840 homes were sold in December, vs. 3,462 in December 2003. Homes that sold in December were on the market for 54 days compared with 39 days in December 2003.

The total sales volume year-to-date for 2004 was $23.2 billion vs. $19.4 billion in 2003, an increase of more than 17 percent.

“We’re beginning to see the market balance out after it was so very tight, with so few active listings,” said Lorrie Mowat, the communications director of the association.

She expects median prices of attached and detached homes to continue to appreciate due to the shortage of homes listed on the market.

— Heather Bergman

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-
-Advertisement-