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Monday, November 13, 2006

San Diego: Prices Decline 5.5%, Sales Lowest Since 1996

by Calculated Risk on 11/13/2006 06:09:00 PM

The San Diego Union reports: County housing prices rise slightly

San Diego County housing prices reversed course and rose slightly last month to reach a median of $485,000, locally based DataQuick Information Systems reported Monday.
There is month to month variability in the numbers, however on a YoY basis, the median San Diego home price declined 5.5% from $513,000 in October 2005.
As for sales, San Diego County had 3,282 transactions last month, up 2.3 percent from September but down 21 percent from a year ago, the 28th straight month to have a year-over-year decline.
Click on graph for larger image.

There were 3,282 sales in October 2006, down from 4,155 sales in October 2005.

This is the lowest transaction level for October in San Diego since 1996 - the end of the previous housing bust in San Diego.

The DataQuick numbers for the rest of California will be released this week.