According to the NCSDAR, homes in North County San Diego continue to rise. While certain parts of the country are still feeling the housing squeeze, once again San Diego is leading the recovery. Nay sayers will say these increases were inevitable since the market was hit so hard last year but the bottom line is prices are on the rise and since the Govt. bailouts are winding down, positive economic news on unemployment and the DOW, interest rates could continue to rise. Now is the time to get off the fence and buy. Here are some stats-
1. The median price for all North County home sales – attached and detached – increased 5.47% in March 2010 from February 2010, to $385,000.
a. Detached homes in North County rose 6.83 percent, from February 2010 to March 2010, from $439,000 to $469,000.
i. Detached home prices OUTSIDE North County increased 0.86% from February 2010 to March 2010, from $348,000 to $351,500.
ii. January 2010 median single-family detached homes in North San Diego County increased 28.85%, from $364,900 in March 2009, continuing an eight-month trend of rising year-over prices. The median price OUTSIDE North County for single-family homes rose 15.25 percent from the $305,000 a year ago; the sixth straight month of year-over increases.
iii. The countywide median price of homes sold increased from $375,500 in February 2010 to $396,000 in March 2010 and was up 21.85% from the March 2009 number for the seventh month of year-over price increases countywide.
b. Attached home prices in North County increased during March 2010 by 2.08%, from $240,000 a month earlier to $245,000.
i. Non-North County attached home prices rose to $202,000 from February 2010 to March 2010.
ii. North County attached homes increased 31.72% from $186,000 a year ago; the eighth month of year-over price increases (the last two months exceeded 30 percent) after 24 months of year-over declines.
c. Median days-on-market for single-family detached homes in North County decreased to 36 days in March 2010. The number of North County single-family homes sold rose 35.96% last month, from 545 to 741. This continues a trend of year-over sales increases since summer 2008 (with the exceptions of year-over decreases January 2010 and October 2009).