County home sales off in January

City News Service

Home sales in San Diego County dropped 3.2 percent in January, compared to the same month a year ago, while prices dipped by 0.3 percent, a real estate information service reported today.

A total of 2,248 homes changed hands locally last month, compared to 2,322 in January 2010, according to La Jolla-based MDA DataQuick. The median price of a home in San DiegoCounty in January was $304,000, down from $305,000
in January 2010.

A total of 14,458 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in January, according to DataQuick. That was down 26 percent from 19,528 in December, and down 5.9 percent from 15,361 in January 2010.

“Last month was sort of a flashback to January last year — sales were lousy, but many investors and others looking for bargains stayed active,” DataQuick President John Walsh said. “They kept working the distress-heavy, lower-cost markets through the holidays, which translated into a relatively high level of investor and cash deals closing last month.”

The median price for a Southern California home was $270,000 last month, down 6.9 percent from $290,000 in December, and up 0.6 percent from $271,500 in January 2010, according to DataQuick.

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Posted by Staff on Feb 15, 2011. Filed under News, Region. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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