San Diego – Home Prices in County Up Slightly

San Diego County home prices ticked up in September after dipping slightly in August, but the number of transactions declined for the third straight month, DataQuick reported Wednesday.

The median price in the county last month was $422,000, up from $415,000 in August and $417,500 in July. Over the past 12 months, the county’s median price has risen 20.6 percent.

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The number of sales, however, dropped 17.5 percent from August to September. Last month, 3,383 homes were sold in San Diego County, the first time since April there were fewer than 4,000 transactions. Still, sales were up 5.3 percent from September 2012.

The numbers show the market is leveling off, said John Walsh, president of DataQuick, a real estate tracking firm.

“We’ve seen a fairly normal downshifting in the housing market this fall,” he said in a statement. “Couple that with the rise in inventory, higher mortgage rates and the ongoing, gradual drop in purchases by investors and cash buyers, and it’s no wonder prices have leveled off in recent months.”

Read more at: http://www.utsandiego.com/news/2013/oct/17/tp-home-prices-in-county-up-slightly/

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