The regional median price for a home increased three thousand dollars up to $268,000. This price, although an increase, is still twenty-three percent lower than 2008, and nearly 47% below what prices were in the middle of 2007.
The Southern California region is made up of 6 counties. Sales of homes totaled just over 24,000, up nearly one thousand homes from June.
The median price in San Diego County stood at three-hundred twenty thousand dollars for the month of July; up nearly four thousand dollars from June figures, yet over forty thousand dollars below July 2008 prices. Home sales in San Diego County are up 11% over last year.
Nearly 30% of the homes sold in the county last month were over the $500,000 price range. Sales of foreclosed properties accounted for nearly 38% of all sales in July.
Throughout July, nearly 22% of all home sales in San Diego County were by investors and/or absentee buyers.
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