Home sales in San Diego County improved in March, evidence of a warming spring selling season despite a dearth of inventory on the market, the Greater San Diego Association of Realtors reported Monday.
Single-family home sales in March were more than 13% higher than February, and sales of attached properties (condominiums and townhomes) were up more than 5%. Year over year, however, sales of existing homes were down 11% for single-family and 7% for condos and townhomes.
The median price of resale homes still shows no sign of leveling off. March single-family prices were up 3% in one month, and attached properties were up more than 2%. Year over year, prices have risen 8%. The median price of a single-family home stands at $1,050,000, while the price of condos and townhomes is $670,000. Homes are closing escrow, on average, in about four weeks.
“The Greater San Diego Association of REALTORS is excited to see a March uptick in home sales,” said association President Spencer Lugash. “As we enter the spring and summer buying season, we hope that we will continue to see an increase in home sales throughout our region.”
In March, the zip codes in San Diego County with the most single-family home sales were:
- 92028 (Fallbrook) with 37
- 91977 (Spring Valley) with 36
- 92056 (Oceanside East) with 35
- 92026 (Escondido North) with 33
- 91913 (Chula Vista Eastlake) with 31
The most expensive single-family property sold last month in San Diego County was a five bedroom, five bath home directly across from Coronado Beach on Ocean Boulevard. The 5,000-square-foot Nantucket-style home includes a front yard, indoor basement and wine cellar. It sold on March 11 for $13,515,000.