As reported in the San Diego Union Tribune on Tuesday, May 18th, San Diego County home prices slipped from March to April but remained within the same zone they have occupied since last summer. These statistics were reported on Monday by MDA DataQuick.
DataQuick said theApril median price was $325,250, down $4750, or 1.4 per cent, from March, but up 12.2 per cent from a year ago. The overall median has remained within the $320,000 – $330,000 band since July.
“I think that the main thing it reflects is a widening stability of the market over the last nine months” a DataQuick analyst said.
However, analysts caution against hoping that prices will start rising rapidly. The quantity of foreclosures and other distressed properties will not dissipate anytime soon. But the median’s stability masks a change in marketmix that has seen low-cost starter home sales taper off and sales of higher-priced homes pickup steam, but not enough to pull the median price up much.