Home sales fall in November while prices stay stable

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SAN DIEGO — Countywide sales of previously owned single-family homes and attached properties both fell from October to November, while prices ticked up slightly, according to data released Tuesday by the Greater San Diego Association of Realtors.

Single-family home sales fell 13% from 1,890 in October to 1,644 in November, while the number of attached properties sold dipped by 24.1% — from 980 in October to 744 last month. Sales of both property types continue to trend down from the housing market’s 2019 high watermark in May.

Median sale prices for single-family homes edged up 0.8% month-over-month, from $660,000 in October to $665,000. Condo and townhome sales prices rose 1.5%, from $425,000 in October to $431,500 in November.

“As we approach the end of the year, there’s still no sign that the economy is wavering,” GSDAR President Kevin Burke said. “Mortgage rates are down more than a percent from where they were at this time last year; a good sign in spite of the lack of housing inventory.”

Year-over-year sales of single-family sales rose 3.7%, from 1,585 in November 2018 to 1,644 last month, while attached property sales numbers fell 6.3% over the same span, from 794 to 744.

Sales prices for both property types rose from November 2018 to last month, according to the GSDAR. Single-family home prices rose 4.9% year-over-year, from $634,000 in November 2018 to $665,000 in November 2019, while attached property prices rose 8.8% from $386,500 in November 2018 to $431,500 last month.

Real estate agents sold 54 single-family homes in western Rancho Bernardo last month, the most of any ZIP code in the county. No other ZIP code had 50 or more single-family homes sold in the month.

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