San Diego home prices slipped slighting in the fall, but they’re still up from last year.
The median sales price for homes in San Diego for Oct 2015 through to Dec 2015 was $476,000. This represents a decline of 0.8%, or $4,000, compared to the prior quarter and an increase of 3.4% compared to the prior year. There are currently about 1,810 resale and new homes in San Diego as well as 1,107 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average price per square foot for San Diego CA was $361, an increase of 6.5% compared to the same period last year. The average listing price for San Diego homes for sale was $677,299 for the week ending Dec 30, 2015- which represents an increase of 1%, or $6,586, compared to the prior week and an increase of 1.7%, or $11,169, compared to the week ending Dec 09. Popular neighborhoods to buy in the later quarter of 2015 were Mira Mesa, Pacific Beach, Rancho Bernardo, Carmel Valley, North Park, and Rancho Penasquitos, and Bay Park. Overall, sale prices have appreciated 30.4% over the last 5 years in San Diego County, but with interest rates on the rise, will housing prices decrease? It’s a difficult question to answer when there is limited availability of houses on the market and homeowners are standing strong on their pricing.
