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

Monthly statistics released by the San Diego Association of Realtors Friday showed a mixed bag for August, although price and sales gains over the past year remained strong.

The median price of a single-family residence that changed hands last month in San Diego County was $540,000, according to SDAR data. That’s down 2 percent from July but up 8 percent from August 2014.

A little more than 2,000 houses were sold last month, 18 percent fewer than the month before but 2 percent more than the previous August.

For attached homes like condominiums and townhouses, the median sales price last month was $350,000, a 3 percent increase from the month before and also from August of last year, the SDAR said.

Almost 1,050 condos sold last month, 17 percent fewer than July but 9 percent more than August 2014.

“This market is just impatient for more sellers,” said Chris Anderson, the president of SDAR’s Board of Directors. “There are buyers out there who have done their homework and are ready to jump in.”

Anderson said the inventory of housing in the region remains tight, at about 2.6 months of supply. The SDAR considers five to six months of inventory to be a healthy level.

The most expensive property that changed hands last month was Fox Hill, a seven-bedroom, nine-bath, 17,000-square-foot estate in La Jolla that had been owned by the Copley publishing family. Developer Doug Manchester purchased the 56-year-old mansion for $17 million, according to the SDAR.

—City News Service

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