San Diego Housing Market Update – October 9th, 2013

Sold-HomeSan Diego Home Prices Rose 20% in September 2013. Home prices rose and the number of days an existing home was on the market fell, from 84 days a year ago to 45 days for homes sold in September.

Based on information from the Greater San Diego Association of Realtors and this recent article by Chris Jennewein on Poway Patch.

“The median price of an existing single-family home sold in San Diego County was 20% higher in September than a year ago, the SDAR reported. The Realtors’ latest report showed that 1,742 homes were sold throughout the county in September with the median price at $486,500. The median is the price at which half of the homes sold for more and half sold for less. It is a better measure of a typical home price than the average, which can be skewed by a handful of expensive homes. Homes that sold in September were on the market an average of 45 days, down from 84 days a year ago, the Realtors said. Prices for condominiums and townhouses fell slightly, by 2% to $305,000 in September.”

This is great news for current home owners that are thinking of selling and an informative statement for future buyers looking to get into the housing market.

Information courtesy of Chris Jennewein – Poway Patch