The number of houses and condominiums that sold in San Diego County last month declined steeply as the median sales price of a single-family home rose to $500,000, according to new figures from the San Diego Association of Realtors.
Data on home sales showed that 1,703 houses sold in May, a 14-percent drop from April and 30 percent below the mark from May of last year.
The median price of a house last month was up 2 percent over the month before, and 7 percent higher than in May of last year, according to the organization.
The 750 sales of attached homes in May was down 26 percent from April and 27 percent lower than May 2013, according to the report.
The condo and townhome median sales price last month was $335,000, a 0.1 percent increase over April and a 10 percent jump over May of last year.
According to the association,, the number of listings last month in San Diego County exceeded 7,000 for the first time in two years.
“The market will experience month-to-month variances, but the housing market in San Diego remains strong,” said Leslie Kilpatrick, the SDAR’s president. “More homes are on the market and buyers are scooping them up quickly. That’s an encouraging sign.”
Existing homes are averaging 40 days on the market, according to the trade group.
– City News Service