San Diego Real Estate: Home Sales Are On the Rebound

San Diego County home sales rebounded in March following a slow January and February, according to statistics released today by the Greater San Diego Association of Realtors.

March single-family home sales rose 24 percent compared to February, while sales of condominiums and townhouses jumped 21 percent.``The housing market in San Diego is showing resiliency despite a slow first quarter,'' said GSDAR President Steve Fraioli. ``The March sales figures show that buyer demand remains strong which is reflected in the steady rise in prices.

''The median price of a single-family home edged up 4 percent to $635,000 in March, though the price of condos and townhouses dropped 3 percent to about $412,000.

Sales for the first quarter of 2018 are about 9 percent below the same quarter last year, indicating a lack of market properties, according to GSDAR. The supply of market resale properties has edged up slightly to 1.7 months, though a supply of five or six months is considered healthy.

Homes sold in an average of 26 days in March.

Fallbrook had the most single-family home sales with 61, followed by north Oceanside (52), Carmel Valley (46), Poway (45) and east Oceanside (44).

An oceanfront home in Carlsbad with a music studio was the region's most expensive sale of March. The 6,300-square foot, five-bedroom home sold for $11.5 million.

Photo Credit: Getty Images

Source: CNS