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Home sales jump, prices drop

Home sales in San Diego County jumped by 11.4 percent in November, compared to the same month a year ago, while prices dropped 30.7 percent, a real estate information service reported Dec. 16.

A total of 2,673 homes sold in November, up from 2,400 for November 2007, while the median price of a home in San Diego County last month was $305,000, down from $440,000 in the same month a year ago, according to La Jolla-based MDA DataQuick.

According to DataQuick, home sales in the six-county Southern California region in November jumped by 26.9 percent over the same month last year.

“Bargains and bargain hunters have kept this market alive through some of the bleakest financial news in memory,’' said John Walsh, MDA DataQuick president. “There’s this renewed sense that you can score a deal - something that had been missing for many years. Last month’s Southland sales weren’t great, given they were the second-lowest for any November in 16 years. But they could have been a lot worse.’'

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A total of 16,720 new and resale homes sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was down 22.3 percent from 21,532 in October and up 26.9 percent from 13,173 in November 2007.

The median price of a Southern California home was $285,000 in November. The median price was down 5 percent from October and down 34.5 percent from $435,000 in November 2007.