The median price of a home in San Diego County rose 9.1 percent in November compared with the same month a year earlier, while the number of homes sold dipped by 4.3 percent, a real estate information service announced Wednesday.
A total of 19,569 new and resale houses and condos changed hands in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month, according to CoreLogic. That was down 5.7 percent from 20,751 in October, and 11 fewer sales than November 2016.
The median price of a Southern California home was $505,000 in November, up 2 percent from $495,000 in October and up 8.6 percent from $465,000 in November 2016.
“Total home sales this November were roughly flat compared with a year ago, but that masks the relatively steep 14 percent gain in sales of $500,000 or more and the nearly 12 percent decline in the number of sales below $500,000,” said Andrew LePage, research analyst with CoreLogic.
“Even though the lower price ranges have strong demand driven by economic and demographic factors, inventory tends to be tightest in the more affordable areas and new-home construction has been focused on the middle and high end of the market.”
— City News Service
>> Subscribe to Times of San Diego’s free daily email newsletter! Click hereFollow Us: