November home sales improve from last year

Home sales in San Diego County rose by 17.8 percent in November, compared to the same month a year ago, while prices rose by 6.6 percent, a real estate information service reported Tuesday.

A total of 3,148 homes sold in November, up from 2,673 for November 2008, while the median price of a home in San Diego County last month was $325,000, up from $305,000 in the same month a year ago, according to La Jolla-based MDA DataQuick.

According to DataQuick, 19,181 homes were sold in the six-county Southern California region in November, down 13.3 percent from 22,132 in October and up 14.7 percent from 16,720 in November 2008. Home prices across the region – including Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties – held steady at $285,000.

“This market is still really lopsided,” said John Walsh, MDA DataQuick president. “Foreclosures and short sales are huge factors. There’s still not a lot of discretionary buying and selling outside the more affordable markets. Anybody who can sit tight is doing just that. The market won’t fully rebalance itself until financing becomes available for the higher price ranges.”

The median price of a Southern California home was $285,000 in November, up 1.8 percent from $280,000 in October but the same as the median price in November 2008.

Related posts:

  1. July home sales three percent higher than last year
  2. Home sales looking up
  3. Home sales increase as prices drop
  4. October home sales down in county
  5. San Diego home sales up in August

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Posted by on Dec 15, 2009. Filed under Archives. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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