County’s March home sales show 6.9 percent increase

Home sales in San Diego County rose by 6.9 percent in March, compared to the same month a year ago, while prices increased by 15.8 percent, a real estate information service reported Tuesday.

A total of 3,227 homes sold in March, up from 3,020 for March 2009, while the median price of a home in San Diego County last month was $330,000, up from $285,000 in the same month a year ago, according to La Jolla-based MDA DataQuick.

According to DataQuick, 20,476 homes were sold in the six-county Southern California region — Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties — in March. That was up 33.3 percent from 15,359 in February, and up 5 percent from 19,506 in March 2009.

“It’s a reflection of just how grim things got, that we’ve now had almost two years of sales gains and we’re still 18 percent below the sales average,” said John Walsh, MDA DataQuick president. “The market won’t rebalance until mortgage lending patterns normalize, and that’s just not happening yet. Some of the best deals out there right now are happening when the buyer comes in with cash.”

The median price of a Southern California home was $285,000 in March, up 3.6 percent from $275,000 in February and up 14 percent from $250,000 in March 2009.