Local housing market loses momentum

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SAN DIEGO — The recently booming San Diego housing market cooled off last month, according to statistics released Tuesday by the San Diego Association of Realtors.

The median price of a single-family house sold in September in the region was $486,500, less than 1 percent above the August cost, the statistics showed. Also, 20 percent fewer houses changed hands in September than the previous month.

housing-moneyFor attached homes, the median price last month was $305,000, which is 1.6 percent less than the month before, according to the SDAR. Nearly 17 percent fewer condominiums and townhomes sold in September compared to the month prior.

The figures are much better when viewed over the long term, however.

Compared to September 2012, the median price of a house that was sold last month was up 20 percent, and it was 27 percent higher for a condo. While 7.7 percent fewer houses sold when compared to September 2012, 8.7 percent more condos were purchased.

For the year to date — January through September of this year — the median price of a house that changed hands was $452,000, or 20 percent higher than the first nine months of last year. The 19,000-plus detached homes that sold marked a 2.9 percent increase.

The median price of a condo sold in the first nine months of 2013 was $292,900, a nearly 32 percent jump over the same period of 2012. The 8,900-plus sales marked a 7.5 percent climb.

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