San Diego County median sales price holds steady in October 2011

San Diego County median sales price
holds steady in October 2011

After reaching a low of $280,000 in January 2009, the median sales price for San Diego County has been rising, falling, rising, falling, holding steady, rising.... Seasonal dips take their toll on the overall price.

The October 2011 median sales price was $315,000. That was the same as September 2011 but down from $334,500 in October 2010.

As you can see in the above table and graph, the median San Diego County home price appears to have hit bottom in January 2009 at $280,000. Since then the median has risen as high as $340,000. The low point has always come each January.

What can we expect in the next two to six months? Probably some more declines in November, December and January, due more to the season than anything else. People are buying iPods, iPhones, and iPads rather than houses, and if they buy too many of them, they are paying for them with credit cards. Then they have to pay those Christmas bills in the new year rather than buy a house.

Look for some price increases in the Spring, some again due to the season. Spring and Summer are prime times for people to buy homes so that they can get their children into a new home before the new school year starts in August.

I believe we'll see some significant price increases due to demand from military personnel returning from overseas as the two wars draw to a close. It's a well-known fact that once someone is stationed in San Diego, they would like to stay, and the low prices and low interest rates will help many of those un-deployed military stay right here in San Diego.

If your home is a place to live, a place to raise your family, a place to retire, and even a place to die, anytime is a great time to buy. Just be prepared to hold on to it for the long term. 

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