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 May 17, 2009

March Sees Continuation of Increased Home Sales
Year-over-year, sales of single family, homes (not new construction, re-sale) in San Diego County increased over 48% throughout the month of March, marking the 11th straight month of increases over last year. So far, year to date County home sales have increased nearly 45% over 2008.
The inventory of available homes increased nearly 2% in the month of March, which is typically seen at this time of year. The number of pending home sales in March was up nearly 11% over the previous month, and up just over 146% over last year.

The median price of a home in March fell slightly to $320,000 and was down over 25% from March of 2008. The average home price increased just over 5% from February 2009.

Sales of condominiums showed an increase of nearly 27% month-over-month. Compared to March of 2008, sales were up just over 46%.

The median price for a condominium in San Diego County dropped nearly 5.5% from the previous month of February, and was down slight over 40% over 2008.

Inventory of condominiums showed an increase of over 7% from February, yet a decrease of five percent from 2008. The amount of pending sales in the month of March was up just over 12% over the previous month and increased over 141% over 2008.

The average home and condo was on the market for 76 days.