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Imperial Beach Home Sales Surge

Single-family home sales in Imperial Beach have seen a sharp increase in the past year.

The median price of single-family homes in the county passed the $400,000 mark in September—a 3.25 percent rise over the August figure—but the number of homes sold is down, according to figures released Friday by the San Diego Association of Realtors.

In Imperial Beach, the average price of single-family homes rose 6.25 percent month-over-month while condo and townhome sales rose 4.6 percent. Single-family home sales here have seen a sharp increase in the past year.

Year to date, total single-family home sales in Imperial Beach rose 80 percent, while condo and townhome sales declined 10.5 percent.

In San Diego County, the median price of a detached home in September was $405,000, compared with $392,250 in August, Realtors figures showed.

September’s price showed an increase of 12 percent from the same period in 2011.

The median sales price for condos and townhomes remained unchanged at $240,000 from August to September, but was up 16 percent from September 2011.

IB Single Family Homes (Detached)

 

Sold Listings Sept.

Sold Listings YTD

Avg. Days on Market Sept.

Avg. Days on Market YTD

Median Price Sept.

Median Price YTD

2011

1

51

116

 70

$285,000

$280,000

2012

11

92

38

 104

$303,000

$297,500

IB Condos and Townhomes (Attached)

 

Sold Listings Sept.

Sold Listings YTD

Avg. Days on Market Sept.

Avg. Days on Market YTD

Median Price Sept.

Median Price YTD

2011

7

63

119

187

$103,500

$153,000

2012

7

57

133

101

$125,000

$160,000

The association said in September that sold listings for single-family homes fell 16 percent to 1,888 and listings for condos and townhomes fell 18 percent to 829 from their highest point in August.

However, the statistics showed sales were up about 10 percent compared to the same time last year.

“I’m very optimistic about our local housing trends and what these fresh statistics indicate,” said local Realors president Donna Sanfilippo. “We still have more work to do to convince anxious sellers and buyers that there may never be a better time to move up to the home they’re dreaming about, or to buy their first home, but the local real estate market is clearly headed in the right direction.”

—City News Service contributed to this report.

Marcus Boyd October 08, 2012 at 05:22 PM
It would be nice to know how many homes were purchased by individuals as "Primary Residence" and how many were purchased by landlords as "Rental Units". My office is writing landlord insurance policies 10 to 1 over new homeowner insurance. At the same time, rental rates in IB have been climbing. If what I've written above is true, this article is evidence that the rich are getting richer, and the poor are getting poorer. I sincerely hope that I am wrong, for all our sakes.
Steve C. October 09, 2012 at 12:32 AM
Marcus, If you think about it, if the median price is $303,000. and you put 5% down ($15,150.00) and finance the rest, your monthly payment would be $1213.00 per month. That doesn't sound like rich getting richer. Sounds like people have no jobs, no savings, no credit to me. Steve

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