For sale sign
A for sale sign in San Diego. Photo by Chris Stone

The median price of a home in San Diego County rose by 6.9 percent in January compared with the same month a year earlier, while the number of homes sold jumped by 5.8 percent, a real estate information service announced Tuesday.

The report came out the same day as the widely followed Case-Shiller index, which showed an increase from from November to December in local home prices.

According to CoreLogic, the median price of a San Diego County home was $529,000 last month, up from $495,000 in January 2017. A total of 2,622 homes were sold in the county, up from 2,478 during the same month the previous year.

A total of 15,247 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 23 percent from 19,800 in December, and down 1.5 percent from 15,475 in January 2017.

The median price of a Southern California home was $507,000 in January, down 0.5 percent from $509,500 in December but up 11.4 percent from $455,000 in January 2017.

“A fairly sharp drop in recorded home sales between December and January is normal,” said Andrew LePage, research analyst with CoreLogic. “Not everyone wants to buy and sell around the holidays, meaning there are fewer deals to record in January and February — two relatively slow months that tend not to be predictive of the year.”

—City News Service