Home sales drop in September while prices stay the same

SAN DIEGO (FOX 5/KUSI) — Although the number of single-family home sales fell last month throughout the county, the median housing prices have remained about the same, according to the Greater San Diego Association of Realtors.

Single-family home sales dropped by nearly 14% month-over-month, SDAR said in its latest report Wednesday. Sales of condominiums and townhomes saw a steeper drop of 22% last month compared to August’s numbers.

Meanwhile, the median home sales prices have remained steady around $1 million. The median for condos and townhomes fell just 4% month-over-month. However, according to SDAR, September’s median prices for all homes were about 5% higher than around the same time last year. Click here for a deeper look at the numbers on SDAR’s report.

The zip codes in San Diego County with the most single-family home sales last month were:

• 92028 in Fallbrook with 38
• 91977 in Spring Valley with 32
• 92057 in north Oceanside with 31
• 92071 in Santee with 30
• 92065 in Ramona with 29

The most expensive single-family property sold last month in San Diego County was a 21-year-old oceanfront home on Cuchara Drive in Del Mar with about 5,000 square feet, 5 bedrooms and 5 bathrooms, the report stated. It sold for $15.5 million on Sept. 19.

Although prices have not changed significantly, the good news for potential homebuyers is that the inventory of available homes on the market is on the rise. Realtors are also optimistic about lower interest rates, according to SDAR president Spencer Lugash.

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