With prices continuing to climb for houses and condominiums, the number of sales in the region continued to tumble last month, the San Diego Association of Realtors reported Thursday.
The median price of a single-family home that changed hands in San Diego County in November was just over $625,000, up 3 percent over October and 12 percent from November 2016.
For condos, the median sales price last month was $407,500, 1 percent higher than the month before and 12 percent above the level of one year earlier.
The 1,673 houses that sold in November was 15 percent fewer than the month before and down 14 percent from the same time last year. The SDAR said 839 condos changed hands, 19 percent lower than October and 18 percent below the year-ago amount.
“While we don’t expect a quick fix to our housing affordability and availability crises, we are more immediately concerned that the tax reform proposals moving through Washington may have a negative effect on homeownership,” SDAR President Bob Kevane said. “SDAR and its state and national realtor associations are advocating to maintain the current law for mortgage interest deductions and capital gains exclusions.”
The most expensive residential property sold in San Diego County in November was a gated estate in La Jolla Shores with a sweeping ocean view, for $7.83 million. The 18-year-old house has 9,900 square feet, eight bedrooms and nine bathrooms.
—City News Service
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