House costs rise in San Diego County

SAN DIEGO (CNS) — House costs elevated throughout San Diego County in February, mirroring a statewide pattern, the California Affiliation of Realtors mentioned Tuesday.

The median worth of an present single-family residence in San Diego County in February was $980,000, up from $925,000 the earlier month, and considerably larger than the $878,000 worth of 1 12 months in the past.

Statewide, the median worth of an present single-family residence final month was $806,490, up from $789,480 in January, and a rise from $735,300 a 12 months earlier.

The state’s highest median residence worth in February was San Mateo County’s $1.92 million.

February’s statewide gross sales tempo was 12.8% larger from the 257,040 properties offered in January and up 1.3% from a 12 months in the past, when a revised 286,290 properties have been offered on an annualized foundation.

The month-to-month gross sales improve was the second straight month of double-digit positive aspects for California. It was additionally the second consecutive month of year-over-year positive aspects, however the enchancment was delicate.

Whereas it’s doubtless that gross sales will keep under this degree within the first quarter of 2024, statewide residence gross sales on a year-to-date foundation remained constructive with a rise of three.4%, suggesting a greater spring residence buying season than final 12 months, in line with CAR.

“Housing provide circumstances in California continued to enhance in February with new energetic listings rising greater than 10% for the second straight month,” CAR President Melanie Barker mentioned. “That is nice information for patrons who’ve been competing for a dearth of properties on the market, and the momentum will hopefully construct additional as we enter the spring residence shopping for season.”

The total report could be seen right here.