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Mixed Trends for Imperial Beach Housing Market

Home sales and prices increased in San DIego and IB in the past month, but local condo sales have seen a slight decline.

The number of single-family homes sold in San Diego County last month was up 34 percent from the same period in 2011, and prices also increased, according to data released by San Diego Association of Realtors Friday.

SDAR's monthly statistics show that 2,071 houses were sold in October, compared to 1,546 in the year-ago period, while condominium and townhouse sales totaled 882–up 18.2 percent over the same month in 2011.

The totals are below those of late spring and summer, which are the traditional high time for the real estate market.

For single-family homes, the October 2012 median price was $400,000, compared to $355,000 in the same month of 2011. That's a 12.7 percent hike.

SDAR figures also showed that the number of active listings has steadily declined in the past year from just over 9,000 properties to a bit over 5,000.

In Imperial Beach, fewer single family homes were sold in October 2012 than in October 2011, the report stated, but year to date more homes have been sold this year compared to last year.

Imperial Beach Detached

October Sold Listings Sold Listings Year to Date October Avg. Days on Market Year to Date Avg. Days on Market October Median Price Year to Date Median Price 2011 10 61 42 66 $311,000 $285,000 2012 7 99 146 107 $292,000 $295,000

For multifamily housing, the median price last month was $246,000. In October of last year, it was $207,000, for a jump of 18.6 percent.

"You can't help but feel good about what we're seeing in the San Diego County real estate market," SDAR board President Donna Sanfilippo said.

Fewer condominiums were sold in October in Imperial Beach compared to October 2011. Days on market are shorter this year, but year to date sales and median prices were higher last year.

Imperial Beach Single Family Attached

October Sold Listings Sold Listings Year to Date October Avg. Days on Market Year to Date Avg. Days on Market October Median Price Year to Date Median Price 2011 6 69 119 181 $162,750 $153,000 2012 3 61 108 103 $118,000 $139,000

City News Service contributed to this report.

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