Home prices in San Diego County rose slightly in January, but the number of properties that were sold fell, according to figures released Tuesday by the San Diego Association of Realtors.
The median price of a single-family home that changed hands in January was $500,000, which was 1 percent above December and 5 percent higher than January of last year, according to the SDAR.
For attached homes like condominiums and townhouses, SDAR data showed that January’s median sales price was $332,000. That’s 1 percent over December and 10 percent more than January 2014.
The organization reported that 1,177 houses sold last month, down 36 percent from December and 10 percent fewer than the same month last year. Also, 549 condos changed ownership in January, 38 percent less than the month before and down 27 percent from January 2014.
“Sales have slipped but it’s encouraging to see values appreciate, and interest rates remain at historic lows,” said SDAR board President Chris Anderson.
“Locally, job growth is strong, and that will certainly help the housing market this year, but the banks are going to need to cooperate, too,” Anderson said. “As it stands, it’s very difficult for some buyers to qualify for a home loan.”
The most expensive listing sold in the county in January was a six- bedroom, seven-bath, 11,300-square-foot beach home in Rancho Santa Fe that went for $8.5 million.
The SDAR reported 6,000 active home listings, about the same as one year ago.
—City News Service
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