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IB Property Value Sees 6% Increase in 2012

Like other housing markets, Imperial Beach homes and condominiums increased in value in 2012.

The median price of a single-family home in San Diego County last month was $418,500, an 18 percent increase over December 2011, the San Diego Association of Realtors announced last week.

Linda Lee, the president of the SDAR Board of Directors, said the figures are encouraging.

"I firmly believe San Diego's real estate market will continue to rebound in 2013," Lee said.

San Diego condominiums and townhomes saw a 23 percent hike in median price from December 2011.

The median price for a single-family home in San Diego County in December 2011 was $355,000. For multi-family housing, it was $205,000.

The number of San Diego sales of houses climbed about 10 percent in December to 2,004 compared with the same month one year earlier. Condo and townhome purchases were up 5 percent to 897.

The median price for a single-family home in Imperial Beach last month was $307,500, a 5.9 percent increase over 2011 prices.

Imperial Beach's condo market median prices saw an annual gain of 6.4 percent in 2012, an SDAR report stated.

Single Family Detached

Sold Dec. 2012 Sold Year to Date Avg. Days on Market Dec. 2012 Avg. Days on Market YTD Median Price Dec. 2012 Median Price YTD 2012 14 120 65 102 $307,500 $301,500 2011 8 78 136 74 $247,500 $283,500

IB's single family detached housing market saw a 35 percent increase in sales in 2012 compared to 2011, while condos sales saw a 6 percent decline.

On average, homes for sale in IB were on the market 27 percent longer than 2011, while condos spent 40 percent less time on the market in 2012 compared to 2011.

Single Family Attached

Sold Dec. 2012 Sold YTD Avg. Days on Market Dec. 2012 Avg. Days on Market YTD Median Price Dec. 2012 Median Price YTD 2012 6 76 73 104 $248,500 $170,950 2011 6 81 110 174 $171,750 $160,000

Visit the Homes Sold column to see the latest list of homes and condos sold in Imperial Beach.

Go to the House Hunt column to see some listings of properties for sale in Imperial Beach.

City News Service contributed to this report.

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