San Diego real estate gained ground in March

SAN DIEGO (CNS) – Real estate in San Diego regained some ground in
March, with the median price of a single-family home rising 4.3% to
$490,000, according to the San Diego Association of Realtors.

In a report issued Monday, the local real estate group said the price of
a house sold in March was 4.3% higher than in February and up 13.4% compared with March 2013.
Sales were up 32.5%, with nearly 1,800 homes sold last month. But
compared with sales in March 2013, sales were down 15.4%, according to
the association.

Condominium and townhouse prices were up 1.7% month-to-month,
with the median price at $305,000. Compared with last March, prices were up 7%. Sales were up 14.7%, with 827 units sold in March.

Compared to last year, sales of condominiums and townhomes were down
17.3%.

Year-to-date figures reflect a wintertime slowdown in the market,
according to the association.

In the first quarter of the year, nearly 4,500 single-family homes sold,
down 18.7% from same quarter in 2013. Quarter-to-quarter condominium
and townhome sales – 2,300 – were down 9.6%.