real estate for sale
A home for sale in San Diego. Photo by Alexander Nguyen

The price of homes and the number of sales in the San Diego region both jumped last month, according to data released Thursday by a real estate trade group.

The median price of a single-family home that sold in San Diego County in March cost $519,540, a 4 percent increase over the previous month and 6 percent higher than the same month last year, according to the San Diego Association of Realtors.

For a condominium or townhome, the median sales price was $348,825, according to SDAR. That’s 4 percent over February and 15 percent above March 2014.

The organization said 1,890 houses sold last month, 26 percent over the previous month and 3 percent better than March 2014. For condos and townhomes, 906 sold in March, up 24 percent for the month and 4 percent for the year.

“These numbers are fantastic — very encouraging,” said SDAR Board President Chris Anderson.

“We expect the trend to continue through the spring, so look for stronger home sales, steady appreciation and more inventory,” Anderson said. “Spring is one of our best selling seasons in San Diego, and this year is not going to be the exception.”

The SDAR reported that homes are changing hands in about a month and a half, on average, which is 17 percent faster than the same time last year. The Multiple Listing Service in San Diego County has about 6,100 active listings, according to the trade group.

—City News Service

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