Home prices rose in October
The price of resale homes in San Diego County ticked up in October, according to housing statistics compiled through the San Diego Multiple Listing Service by the Greater San Diego Association of Realtors® (SDAR). The median price of single-family homes in the county rose by more than 3 percent in October compared to September, reaching $665,000. The increase was coupled by a slowdown in single-family home sales by just under 5 percent month over month. However, sales were higher than October of last year by about 2 percent. Similarly, attached properties (condominiums and townhomes) saw a more than 2 percent increase in the median sale price in October compared to September, standing at $429,000. Sales of condos and townhomes were 2 percent lower month over month, and nearly 4 percent lower than October 2018. “Rising prices and low inventory are still a burden on our state and local housing economy, but mortgage rates that are approximately 1 percent lower than at this time last year should give some lift to buyer demand,” said SDAR President Kevin M. Burke, JD.
Scripps Ranch home sales for October 2019
Single family homes sold: 28
Median price of single family homes sold: $931,000
Attached homes sold (condominiums or townhomes): 13
Median price of attached homes sold: $476,000