Houses for Sale in San Diego- DataQuick Information Systems in San Diego reported May12, 2011 that prices of houses for sale in San Diego fell slightly by 1.1 percent in April compared to the same period last year as well as falling 1 percent from March 2011. Median home prices continue to linger in the low to mid $300,000′s with Aprils figure at $321,750.
San Diego county closed 3,277 homes in April, down 0.5 percent from last year, but up 7 percent from March. Researchers said this sideways or downward pattern of home prices was experienced throughout Southern California. Orange County was the only area of no change while San Diego, Los Angeles, Riverside, San Bernadino and Ventura all experienced declines in home prices.
The good news is that this week saw a new 2011 low for interest rates and job creation is San Diego county continues to rise. However, home buyers are still facing tight lending rules making it increasingly more difficult to get financing and increasing costs on consumer stables such as gasoline and groceries continue to be a drag on the local economy.
The president of DataQuick, John Walsh had this to say:
“The market’s in a rut at a time it would normally be building momentum. Two of the more likely forces that could get it going again are more robust job growth and home price reductions. At the moment, the latter appears to be the more likely short-term catalyst.”
To find out more information about houses for sale in San Diego and the direction of our local market contact Realtor and 25 year real estate veteran, Russ Petrone, Broker of Petrone Properties Real Estate Associates at (858) 259-1000 or visit www.PetroneProperties.com.