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IB, San Diego Home Prices Continue to Rise

Imperial Beach home and condo prices increased at least 30 percent compared to January 2012.

See Also: IB Property Value Sees 6% Increase in 2012

Housing prices in the San Diego region increased by double digits last month compared to the same period in 2012, according to data released Wednesday by a Realtors group.

The San Diego Association of Realtors' figures showed big jumps in both prices and the number of property sales in January compared to the same month last year.

The median price of a single-family home sold in San Diego County last month was $390,000, a 12 percent increase from one year earlier but down 7 percent from the previous month.

The median price of a single-family home sold in Imperial Beach last month was $325,000 a 30 percent increase from one year earlier and 5.3 percent increase from December 2012.

Detached Housing Imperial Beach

Sold Listings Jan. 2013 Sold Listings Jan. 2012 Avg. Days on Market Jan. 2013 Avg. Days of Market Jan. 2012 Median Price Jan. 2013 Median Price Jan. 2012 7 8 97 126 $325,000 $227,500

For multi-family housing like condominiums and townhomes, the median sales price was $245,000, according to SDAR. That's up 17 percent in year-over-year comparisons but down 3 percent from December.

The median sales price of multi-family or attached housing in Imperial Beach last month was $183,500, a 39.5 percent increase from January 2012.

Attached Housing

Sold Listings Jan. 2013 Sold Listings Jan. 2012 Avg. Days on Market Jan. 2013 Avg. Days on Market Jan. 2012 Median Price Jan. 2013 Median Price Jan. 2012 2 4 55 96 $183,500 $111,000

The same trend of a better performance in annualized statistics also applied to the numbers of properties sold in January.

The SDAR figures showed 1,559 houses sold last month, up 15 percent from January 2012 and down 22 percent from December 2012. A total of 673 condos or townhomes changed hands, up 8 percent from the same time last year, but 25 percent lower than the previous month.

"I firmly believe 2013 is going to be a great year for real estate, and I'm really pleased to see signs of that in these numbers," said Linda Lee, SDAR's board president. "Interest rates remain extremely low and more inventory is entering the market. It's an encouraging time."

The organization reported that the most expensive San Diego County listing sold last month was a five-bedroom, five-bath, 9,605 square-foot home in Rancho Santa Fe that fetched $6.995 million.

City News Service contributed to this report.

JK February 10, 2013 at 05:32 PM
So glad we bought a year ago next month. IB has a great future!

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