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Home Sales Rise in December

Prices, however, slipped to a median of $315,000, according to a local real estate service.

 

Home sales in San Diego County rose by 3.8 percent in December, compared to the same month a year ago, while prices dipped by 5.4 percent, a real estate information service announced Tuesday.

A total of 3,311 homes changed hands locally last month, compared to 3,191 in December 2010, according to La Jolla-based DataQuick. The median price of a home in San Diego County in December was $315,000, down from $333,000 in December 2010.

A total of 19,247 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in December, according to DataQuick. That was up 14 percent from 16,884 in November, but down 1.4 percent from 19,528 in December 2010.

The median price for a Southern California home was $270,000 last month, down 1.8 percent from $275,000 in November and down 6.9 percent from $290,000 in December 2010, according to DataQuick.

According to the California Association of Realtors, December's home sales in the state were at their highest level since January 2011, and up for the third straight month.

"With the economy slowly improving, home buyers, investors and first- time buyers alike took advantage of affordable interest rates and made a push to close escrow by the end of year," said CAR President LeFrancis Arnold. "Robust sales over the past few months signal the housing market is treading above water on its own in the first full year without the government stimulus that has helped housing in the last couple of years."

-City News Service

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