Lemon Grove home prices are rising in 2013, reports realtors

Home sales prices in Lemon Grove are roughly 9 percent higher through the first two months of 2013, compared to the same period in 2012, according to recent statistics reported by the Pacific Southwest Association of Realtors (PSAR), an industry association that provides educational training, advocacy and other services and resources to its realtor members.

PSAR said the year-to-date average sales price for Lemon Grove homes through February was $202,713, compared to $185,803 for the first two months of 2012. Sale prices for detached homes in this current calendar year have increased to $268,426 from $255,505 in 2012, a difference of 5 percent, as well as attached homes to $137,000 from $116,100 in 2012, a difference of 18 percent.

Home price increases in East County are on a similar track to Lemon Grove, PSAR reported. PSAR said the year-to-date average sales price for East County homes through February was $259,199, compared to $228,586 for the first two months of 2012, a difference of 13 percent.

“Attached homes are suffering the brunt of the inventory drought in Lemon Grove,” said Nikki Coppa, local realtor and PSAR past president. “The dominance of traditional sales is welcome news for buyers as the traditional sale process typically results in faster seller response times to offer and more reliable escrow closings.”

PSAR statistics are compiled monthly by Coppa using data from Sandicor, Inc., a corporation owned by local realtor associations that tracks San Diego County’s regional multiple listing service.

The Pacific Southwest Association of Realtors (PSAR), founded in 1928, primarily serves realtors from San Diego’s East County and South Bay areas. In 2012, PSAR became a 1,900-member realtors association following a merger of the El Cajon-based, 800-member East San Diego County Association of Realtors, and the Chula Vista-based, 1,100-member Pacific Southwest Association of Realtors. For more information, visit www.PSAR.org.