San Diego County home sales and prices continue climbing....

DataQuick is reporting that San Diego County home sales for July 2009 were up for the thirteenth month in a row, and home prices were up again, making it the seventh month in a row that prices have been up or flat.

Home sales totaled 3,809 in July 2009, up from 3,692 in June 2009 and up from 3,431 in July 2008.

The median price was $320,000 in July 2009, up from $314,250 in June 2009 but still down from $364,000 in July 2008.

Experts caution, though, that rapid appreciation like that we saw in the early 2000's won't be back anytime soon. Personally, I think that's good. With rapid appreciation, people thought that their home was a bank ATM. The sooner we get back to people buying a home to live in, raise a family in, retire in, and perhaps even die in, the sooner we'll have a more stable real estate market and a better economy.

Inventory has also fallen, which I've know for a long time since the inventory at the 39 Mission Valley condos is absolutely abysmal. According to the San Diego Association of Realtors, the number of active listings was 8,889, which is a mere 2½ month supply using the July 2009 median price.

The California new home tax credit has expired, and the $8,000 Federal tax credit is due to expire on November 30, so if you're thinking about buying, now's the time to do it because you have to close escrow by November 30 to get that $8,000 Federal tax credit.

*****

Jim Frimmer, Realtor
Century 21 Award Mission Valley
California DRE License #01458572
619-729-5701
jimfrimmer@century21award.com

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*****

This week's posts:

1. San Diego County home sales and prices continue climbing.... - 8/18/09

Last week's posts:

1. Kitty cat facts you might not know - 8/16/09
2. What is the purpose of a pre-listing inspection? - 8/16/09
3. Condo living - Saving at the grocery store - 8/16/09
4. Condo living - Covenants, conditions, and restrictions - 8/16/09
5. Lazing on a Sunday afternoon at the San Diego Zoo - 8/16/09
6. Don't be lounging around.... - 8/15/09
7. Condo living - The basics - 8/13/09
8. What do YOU see? - 8/12/09
9. Still trying.... - 8/11/09
10. Mission Valley condos, San Diego CA: The Missions at Rio Vista - 8/10/09

Previous week's posts:

1. Mission Valley condos, San Diego CA: Things to do - The San Diego Zoo - 8/10/09
2. Mission Valley condos, San Diego CA: Federal Stimulus projects - 8/9/09
3. Mission Valley condos, San Diego CA: Pandas at the San Diego Zoo - 8/9/09
4. Can a business prevent you from blogging about them? - 8/8/09 - Featured
5. Free concert tonight in La Jolla featuring yours truly - 8/7/09
6. Check this out! What ActiveRain has done for me! - 8/6/09 - Featured
7. Mission Valley condos, San Diego CA: You, too, can have a pool! - 8/6/09
8. Mission Valley condos, San Diego CA: Condos make great second homes or vacation homes - 8/5/09
9. Mission Valley condos, San Diego CA: Lucky dogs at The Lido - 8/5/09
10. Mission Valley condos, San Diego CA: Hye Park - 8/3/09

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