Slight decrease in August home sales; Poway, Rancho Bernardo sales still strong
Sales of single-family home sales in August decreased by about 3 percent compared to July, while sales of condos and townhomes were virtually unchanged, according to the Greater San Diego Association of Realtors. Compared to August of last year, single-family home sales were down, but condos and townhomes saw an increase of nearly 7 percent.
The median price of single-family homes sold in August was $483,000, down slightly from July, but still 23 percent higher than a year ago. For attached properties, the median price stood at $310,000, down about 3 percent from the previous month, but up 29 percent from last August.
More sellers are entering the market, records show. More than 6,600 homes are for sale in San Diego County. Inventory levels haven’t been that high for about 15 months. However, there’s still only about 2 months of housing inventory available. Five to 6 months is considered a healthy level.
“Interest rates are still at historic lows,” said Linda Lee, SDAR’s board president. “That, combined with the increases in inventory, means the San Diego real estate market remains very active for buyers and sellers.”
In August, the ZIP codes with the most sales of single-family homes include: 92028 – Fallbrook, 62; 92127 – Rancho Bernardo, 59; 92024 – Encinitas, 57; 92064 – Poway, 54; and 92009 – Carlsbad, 52.
The most expensive San Diego County listing sold last month: A 6-bedroom, 7-bath, 9,100-square-foot La Jolla home that sold for $13.8 million.
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