San Diego Five Year Price Trends First Quarter 2010
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San Diego County Five Year Market Trends
First Quarter 2010
The average sale price of homes in San Diego County continued to rise in the fourth quarter of last year. Since the first quarter of 2009 there has been a 19.6% rise in the average price for single family homes and 12.6% rise in the average price for attached homes, mostly condos. The primary reason prices have increased is the low inventory of homes for sale on the market. This low inventory is the result of prices still down 37% since the peak in the second quarter of 2007. With prices this low most people do not want to sell their homes unless it is necessary or they are moving up to a larger home where the savings percentage on the new home is large.
The number of home sales in San Diego County for both single family homes and condos increased significantly in the second quarter of last year and remained flat for the rest of the year. This level of home sales of approximately 3,000 homes per month is quite substantial for our area. This remarkable increase in sales is due to the pent up demand, tax incentives, low home prices, and the very low interest rates.
The $8,000 First-Time Home Buyer Tax Credit to Expire… Read More
The $6,500 Existing Home Owner Tax Credit to Expire… Read More
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Red: Detached(Single Family), Blue: Attached Source: Sandicor Multiple Listing Service
Source: Federal Home Loan Corp
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