San Diego housing numbers continue dropping

SAN DIEGO (KUSI) — The number of homes that changed hands in the San Diego region last month continued to fall in most categories amid tight inventory, statistics released Friday show. Just over 2,200 single-family residences sold in June, 14 percent lower than May and 4 percent fewer than the same month last year, the San Diego Association of Realtors reported.

For attached homes like condominiums and townhomes, 1,215 changed ownership last month. That’s three percent above May but six percent below June 2015. SDAR data shows that prices mostly rose, but not by much. The median price of a house sold in June was $567,500, which is $250 above May’s figure four percent over the same month last year.

For condos, the median sales price was $380,000, one percent higher than a month prior and 9 percent over one year ago.

"Halfway through 2016, the residential real estate market is performing well, despite the limited number of homes for sale,” said SDAR President Cory Shepard. "Buyers who are in the market still have the benefit of wonderfully low interest rates."

Residential properties are staying on the market for less than a month, averaging 29 days in June, according to SDAR. The supply of resale homes is languishing at 2.3 months, about half of a healthy supply.

The most expensive home sold last month was a 14-bedroom, 19-bath, 14,000-square-foot Coronado estate, circa 1926, that went for $13.3 million.

Categories: Local San Diego News