San Diego County’s housing market picked up in July with sales rising 10.1 percent from a year ago as the median home price stayed flat, real estate tracker CoreLogic said Wednesday.
The $580,000 median home price in July, showing no gain from the year before, was down from the all-time high of $590,000 the previous month.
Even with flat home prices, there was a shift in the market that may show lower mortgage interest rates are having an affect. There were 3,988 home sales in July, up by 365 from the same time last year. It was the first time in 14 months that there were more sales than the year before. Of note was that there was one extra recording date this July than last July.
Here is how the San Diego market fared by home type in July:
Resale single-family homes: The median price was $629,000, down from the peak of $649,000 reached last month. There were 2,515 sales, 195 fewer than July 2018.
Resale condos: The median price was $435,000, down from the peak of $437,000 last month. There were 1,117 home sales, 34 more from the same time last year.
Newly built homes: The median was $701,250, down from the all-time high of $812,500 reached in October 2018. There were 365 home sales, up by 136 from the same time last year.
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