SAN DIEGO - While housing prices are on the rise in San Diego County, some properties can go for tens if not hundreds of thousands of dollars less depending on location.
Realtor Mark Powell tells reporting partner 10 News he has a listing for a three bedroom, two bath remodeled house in Lakeside for nearly $700,000, which is below market average, but a similar home in Clairemont is going for more than a million dollars.
"Real estate is all about location, location, location, and just a 25 mile difference makes a huge difference in price," said Powell.
On top, a home in Clairemont going for $1.02 million. On the bottom, a similarly sized home in Lakeside going for $699,000 on May 18, 2022.Photo: Jonathan Horn/KGTV
In this case, the price difference is about $400,000.
"Interest rates themselves will determine who can afford to buy a house and what you can afford to buy," said Powell. "But if there's few homes on the market, you're still gonna get prices going up."
Corelogic reported the median price for a home in the county in April was more than $842,000, a 20 percent increase over last year.
Here's more on the story from reporting partner 10 News: