The median price of single-family homes sold in San Diego County in September rose three percent from August to pass the $400,000 mark, but the number of homes sold is down, according to figures released by the San Diego Association of Realtors.
In Lemon Grove, the average price of single-family homes was $282,500 in September, up from $251,000 for the same time period in 2011—a 12.5 percent increase.
Year to date, total single-family home sales in Lemon Grove rose 34.5 percent.
Condo and townhome sales since this time last year have declined sharply, however—down by 63.3 percent—while values experienced a slight drop of almost 3 percent.
In San Diego County, the median price of a detached home in the region last month was $405,000, compared with $392,250 in August, the figures showed. September's price showed an increase of 12 percent from the same time period in 2011.
The median sales price for condos and townhomes remained unchanged at $240,000 from August to September, but was up 16 percent from September 2011.
The association said sold listings for single-family homes dropped 16 percent to 1,888 and listings for condos and townhomes fell 18 percent to 829 from their highest point in August. However, the statistics showed sales were up about 10 percent compared to the same time last year.
“I'm very optimistic about our local housing trends and what these fresh statistics indicate,” SDAR president Donna Sanfilippo said. “We still have more work to do to convince anxious sellers and buyers that there may never be a better time to move up to the home they're dreaming about, or to buy their first home, but the local real estate market is clearly headed in the right direction.”
—City News Service