San Diego Median Home Price Back at $570k

San Diego County home sales were down for the 12th month in a row in April, said real estate tracker CoreLogic on Wednesday.

The median home price was up from previous months to $570,000, the same price it was in April 2018. In the past 12 months, the median hit a peak of $584,750 in August and a low of $532,000 in January.

There were 3,593 home sales in April, down 3.4 percent from the same time last year. Still, that’s up from the past 11 months, which have seen an average drop of 12 percent. As with Southern California as a whole, April could be a sign the housing market is gaining steam again.

CoreLogic analyst Andrew LePage wrote that a smaller decrease in sales across the region could mean that declining interest rates, and more homes on the market, motivated buyers.

“This might include people who backed out of a tighter, more frenzied market last year,” he wrote, “when rising prices and mortgage rates priced out some and made others worry about buying near a peak.”

San Diego’s market was led by resale single-family home sales, which were up 2.8 percent year-over-year and was the only type of home to see a bump. The resale median reached $630,000 — back to an all-time high reached in June and July last year.

Resale condo sales were down 3.6 percent, with a median of $420,000, down from a peak of $430,000 reached in June and July.

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