SOURCE: Greater San Diego Association of REALTORS

Greater San Diego Association of REALTORS

March 09, 2015 15:44 ET

Home Sales Increase in February, According to Greater San Diego Association of REALTORS®

Median Prices Hold Steady

SAN DIEGO, CA--(Marketwired - March 09, 2015) - Sales of previously owned homes increased in February after a particularly slow January, according to new housing statistics from the Greater San Diego Association of REALTORS® (SDAR). 

Single-family homes sales rose 7 percent in February, while condominiums and townhomes saw an 11 percent jump over last month. For the year, total sales are down about 6 percent from 2014.

Median prices continue to demonstrate the stabilization of the market, with both detached and attached home prices rising slightly in February. Single-family homes hit the mark at $500,000, while condos and townhomes reached the $335,000 mark.

Active listings on the Multiple Listing Service (MLS) have not budged much, at just under 6,000, resulting in a housing stock of about 2.5 months. (Five to six months is considered a healthy inventory level.) In February, the average number of days that homes remained on the market stood at 52, unchanged from last month.

"These are good numbers," said SDAR's 2015 Board President Chris Anderson. "We expect this trend to continue as we head into the spring and summer selling season. If inventory levels rise, we could really see some market growth."

In February, the zip codes in San Diego County with the most single-family sales were:

  • 91977 (Spring Valley) with 40
  • 92128 (Rancho Bernardo) with 37
  • 92026 (Escondido) with 37
  • 92027 (Escondido) with 36
  • 92056 (Oceanside) with 36

The most expensive listing sold in the county in February was a 5-bedroom 5-bath, 6,700-square-foot home in La Jolla that sold for just over $9 million.

SDAR's housing statistics are compiled monthly from the Multiple Listing Service (MLS). Click here for a detailed look at the numbers. Here is a summary:

MEDIAN SALES PRICE Comparing February 2015 to January 2015
• Single-Family: 1 percent INCREASE
February 2015 = $500,000
January 2015 = $495,000

• Condos/Townhomes: 3 percent INCREASE
February 2015 = $335,000
January 2015 = $325,000

MEDIAN SALES PRICE Comparing February 2015 to February 2014
• Single-Family: 6 percent INCREASE
February 2015 = $500,000
February 2014 = $470,000

• Condos/Townhomes: 12 percent INCREASE
February 2015 = $335,000
February 2014 = $299,250

TOTAL SOLD LISTINGS Comparing February 2015 to January 2015
• Single-­Family: 7 percent INCREASE
February 2015 = 1,395
January 2015 = 1,303

• Condos/Townhomes: 11 percent INCREASE
February 2015 = 675
January 2015 = 608

TOTAL SOLD LISTINGS Comparing February 2015 to February 2014
• Single-Family: 2 percent DECREASE
February 2015 = 1,395
February 2014 = 1,420

• Condos/Townhomes: 13 percent DECREASE
February 2015 = 675
February 2014 = 778

With more than 12,000 members, the Greater San Diego Association of REALTORS® is the largest trade association in the county. We help our members, who adhere to a code of ethics and professional standards, sell more homes. We also help people realize the dream of home ownership, and we are dedicated to protecting private property rights. You can follow SDAR on FacebookTwitter and YouTube.

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