Residential prices remain high despite slowdown

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Home soldSAN DIEGO -January residential real estate prices in San Diego County remained well above the same month a year ago, but signs of a slowdown continued to creep into what had been a superheated housing market, according to figures released today by the San Diego Association of Realtors. The median price of a single-family home that sold in January was $475,000; down 0.7 percent from December but up 21.8 percent from January 2013, when it was $390,000. The median price of an attached home that sold last month was $305,000. That’s 1.7 percent higher than the previous month and 24.5 percent greater January 2013, when it was $245,000. The hot San Diego real estate market of early 2013, with large monthly increases in prices and homes sold, showed signs of cooling in the fall, and the SDAR figures showed that it continued into January. The easing matches a nationwide trend. The organization reported that 1,231 houses sold in January, down 22.6 percent from December and 21 percent lower than January 2013. Also, 683 condominiums or townhouses changed hands last month, 15.6 percent lower than the month before but 1.5 percent higher than January 2013. The number of listings in the county has declined three months in a row, from a peak of about 7,000 in October to a bit of 5,500 last month, according to the SDAR.

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