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 June 23, 2009

San Diego County Home Prices Show Increase in May
For the past two consecutive months, the median price for a home in the state of California increased. This is the first time this has occurred in almost a two year period. In March of this year, the median price of a detached home (existing) stood at just over $253,000. In April the price was reported at nearly $257,000. These prices continue to show a dramatic decrease over 2008 when the median price was nearly $450,000.
Month over month, the median price of a home in the County increased just over 3.5%. When compared year over year, the price is down just over 23.5%.

Sales numbers of resold, single-family homes in the County increased just under 6% when compared year over year. May marks the 13th month in a row to show increases in home sales over 2008. Year to date, over 2008, home sales have increased a total of just over 30.5%

Available inventory of homes also increased in May, however was down nearly one-half percent over 2008. Inventory listed as pending has experienced nearly a 134% increase over 2008.

The median price for a condominium in the County increased just over 11.5% when compared to April. Compared to last year, prices are down twenty-eight point five percent.

Inventory of available condominiums increased three and a half percent form the month of April, and up five percent from 2008. Pending sales of condominiums are up just under 8% over April and have increased just under 153% since last year.