20 Jul San Diego real estate breaks records in June

June was a record-breaking month for San Diego real estate.

Median sales prices of homes for sale in San Diego rose to a nearly eight-year high, reaching pre-recession levels. The median prices for a home for sale in San Diego sold for $476,000, up 5.8 percent from June 2014, according to the latest CoreLogic real estate data.

The June figures are the highest since July 2007, when the figures were at $489,000 before the height of the housing recession. San Diego home sales also broke records. Last month, there were 4,467 transactions recorded, up 21 percent from the same time last year. That’s the highest since 4,533 transactions were recorded in June 2006. Historically, real estate sales peak in spring and summer – and this year was no exception. The spring started off slow, but roared back. Interest rates are relatively low and the housing supply remains tight. There were 7,153 active listings in June, according to the San Diego Association of Realtors. That’s a bit less than two months’ inventory.

Last month, median home prices in San Diego County rose 3.7 percent from $459,000 in May, while sales of real estate in San Diego were up 17.1 percent from 3,816.