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

Countywide sales of previously owned single-family homes and attached properties like condominiums and townhomes both increased by more than 20 percent from February to March, according to data released Wednesday by the Greater San Diego Association of Realtors.

Single-family home sales jumped 28.2 percent — from 1,342 in February to 1,721 last month — while month-over-month sales of attached properties increased 20.6 percent, from 691 to 833. The increases are the first major rebound for the county’s housing market, which bottomed out in January during a winter swoon.

Month-over-month median home prices increased slightly for both types of properties. Single-family home prices rose 0.3 percent, from $628,000 in February to $630,000 in March, while attached property prices increased 1.7 percent from $413,000 to $420,000.

“The March sales figures indicate to me that buyer demand remains strong,” said SDAR President Kevin Burke. “Serious buyers should be encouraged by a strong increase in the supply of homes on the market compared to a year ago.”

But countywide home sales are still behind where they were at this time last year. Year-over-year home sales decreased 7.1 percent, from 1,852 in March 2018 to 1,721 last month. Attached property sales decreased by more than two times that much, dropping 15.2 percent from 982 in March of last year to 833 last month.

Year-over-year home prices showed little evidence of a pattern. Single- family home prices dipped 0.8 percent from $635,000 in March 2018 to $630,000 last month while attached property prices increased 2.7 percent, from $409,000 to $420,000 last month.

Realtors sold 55 single-family homes in southern San Marcos last month, the most of any ZIP code in the county. It was the second consecutive month that local agents sold the most homes in southern San Marcos.

–City News Service