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Tuesday, Jul 23, 2024
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Median Resale Home Price Increases 8%

The median price of previously owned San Diego homes rose 8 percent in the 12 month period ending in January 31, according to the Greater San Diego Association of Realtors.

Sales volume on an annual basis was down 4 percent for single family homes in January, with 1,269 recorded sales. Condos and townhomes sales were unchanged at 639 sales.

The single family homes median sales price was $532,000, while condos and townhomes rose 9 percent to $355,000.

Monthly volume took a severe dive in January from December, down more than 25 percent for both types of homes, but GSDAR attributed that to the predictably surge of year-end activity.

Supply was yet again problematic with less than two months of available inventory, compared with the five to six months of supply that is considered healthy.

The most expensive home sold in January was in Del Mar, for $13 million. It had three bedrooms, three baths and 1,660 square feet. It was built in 1986.

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