The number of area home sales slightly increased in February, as did home prices, according to data released Monday by the Greater San Diego Association of Realtors.
Single-family home sales increased by about a half percent, but sales of attached properties such as condominiums and townhomes increased by 8.4% over January. Compared to February 2019 sales were up around 4% overall.
The median price of a single-family home in February was $677,000 — up $7,000 from January and more than 8% higher than February 2019. The median price of attached properties was $450,000, up 3% from January and more than 9% from the year-ago period.
“It’s still too early to predict the full economic impact of the coronavirus, but it can’t be denied that mortgage rates are about as low as you are going to find them,” said GSDAR President Carla Farley. “Borrowers who lock in today’s low rates will benefit significantly in the long term.”
The zip codes with most single-family sales tended to be more rural and suburban, such as Fallbrook, Ramona, Spring Valley and Poway, but the College area also saw 30 home sales last month.
The most expensive property sold in January was an oceanfront house on Camino De La Costa in La Jolla. The 5,818-square-foot, five bedroom home sold for $9.5 million and possibly will be considered for rebuilding, the association said.
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