20 Apr San Diego real estate posts large gains in March
The San Diego real estate market just keeps getting better and better.
Activity surged in March, with the biggest annual sales increase of real estate in San Diego in nearly two years. A record 3,467 real estate transactions closed in the County last month, a 13.4 percent jump from March 2014, according to CoreLogic Data Real Estate Tracker. That’s the biggest sales increase since July 2012 to July 2013, when annual sales rose 19 percent.
That kind of sales growth helped push the county’s median sales price up 6.8 percent to $456,000. Typically, March kicks off the busy spring and summer real estate selling season. In summer 2013, housing prices were up a record 24 percent annually, fueled by investors and foreclosure resales. The market had slowed in 2014 until momentum picked up last month.
Sales rose 35 percent last month, and the median sale price of a home for sale in San Diego increased from $440,00 to $456,000.
Real estate experts say the appreciation has helped homeowners sell their homes, and low interest rates are helping. There were 6,101 active listings in the county, according to the San Diego Association of Realtors.