Selling? Buying? Either Way San Diego Housing Market is Hot

The median home price in the county is up 22 percent from a year ago. Imperial Beach's was up too, while Coronado's price far outpaces both.

A South Bay home that sold in May. Photo credit: SANDICOR.
A South Bay home that sold in May. Photo credit: SANDICOR.
If you're interested in buying or selling your home, these facts from May should tell you a lot – the market is gaining ground fast.

  • The median price of a single-family home in San Diego County was $466,000 in May, up 22.6 percent from a year ago and 3.6 percent higher than April, the San Diego Association of Realtors reported online.
  • More than 2,400 houses were sold last month, up 15.5 percent from April and 10.2 percent from May last year.
  • The number of days a house spent on the market dropped by nearly one-third in the first five months of this year, compared to the same time last year.

In the South Bay market:  
  • In Coronado the median price far outpaced the county's at $1.56 million, up from the $1.35 million year-to-date median; 16 homes sold in May.
  • In Imperial Beach the median price fell in May, to $321,400 from the year-to-date median of $325,650; 10 homes sold. But compared to May 2012, the median is up nearly 17 percent, from $275,000.
  • In Chula Vista, the average median price for the community's five zip codes is $453,750. More than 350 homes sold. All Chula Vista medians are trending up from the year-to-date median as well as compared to 2012. 

As far as condominiums and townhouses, the median price in the county was $305,500 in May, up 32.8 percent from the same period a year ago and 5.9 percent from April.

In May, more than 1,000 condos or town homes changed hands – a 9.6 percent hike from the same month last year.

– City News Service contributed to this report.


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