24 Apr Homes for sale in San Diego County post record gains in March

One of the most expensive homes for sale in San Diego County sold last month – a $10.5 million, 4-bedroom, 6-bath, 6,350-square-foot home in Encinitas, according to March statistics from the Greater San Diego Association of REALTORS (SDAR).

It’s yet another sign that the San Diego real estate market is in full swing, and comes as welcome news.

Not only did the mansion in Encinitas sell, so did a record number of single-family homes in Carmel Valley, Del Mar, La Jolla, Rancho Santa Fe, Santaluz, Solana Beach and other communities in San Diego County.

A closer look at San Diego real estate

Median prices were also on the rise. The median sale prices of single-family homes for sale in San Diego County rose to $490,000 – the highest since December 2007, according to SDAR statistics. Those numbers increased 4%, from $470,000 to $490,000, compared to February. March’s figure is 13% higher than one year ago, when it was $432,000, according to SDAR reports.

The number of single-family homes that sold fared even better: SDAR reported 1,767 homes sold in March, a 32% increase from 1,334 that sold the previous month. Year-over-year, the for-sale figures for single-family homes were down 15%, from 1,767 to 1,089.

March’s real estate figures capped off yet another strong month for homes for sale in San Diego County. In February, the median price of single-family homes for sale in La Jolla was $1.75 million – a 5.1 percent increase from the month before. There were approximately 46 homes for sale in La Jolla in February with a median price of $1.09 million, down 9.1 percent from the previous month.