djc
04-15-2008, 09:19 PM
LA JOLLA, Calif. -- San Diego's home sales dropped for the seventh consecutive month, according to recent data from a real estate news service.
The latest numbers from La Jolla-based DataQuick Information Services showed a drop of 34.5 percent in March for home sales in the county.
There were 2,108 homes sold in March of 2008 compared to 3,218 the year before. The median price of a home fell 19 percent from $490,000 to $395,000.
DataQuick said the traditional seasonal boost in sales between February and March was less than half of its normal level, reaching a record low.
Marshall Prentice, DataQuick president, said, "We continue to believe a lot of people who could be buying or selling right now are opting to sit tight until they sense we've hit bottom. Although prices have fallen off their peaks in most places, the magnitude of the decline continues to vary widely, with the largest discounts concentrated in markets rife with foreclosure resales."
http://www.nbcsandiego.com/money/15889949/detail.html?dl=headlineclick
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Median finally drops back below $400k. The correction continues as expected. I've been looking recently in the San Marcos area and was surprised it has dropped as much as it has so soon. SEH has been holding out above the rest, however that community is full of dreamers.
The latest numbers from La Jolla-based DataQuick Information Services showed a drop of 34.5 percent in March for home sales in the county.
There were 2,108 homes sold in March of 2008 compared to 3,218 the year before. The median price of a home fell 19 percent from $490,000 to $395,000.
DataQuick said the traditional seasonal boost in sales between February and March was less than half of its normal level, reaching a record low.
Marshall Prentice, DataQuick president, said, "We continue to believe a lot of people who could be buying or selling right now are opting to sit tight until they sense we've hit bottom. Although prices have fallen off their peaks in most places, the magnitude of the decline continues to vary widely, with the largest discounts concentrated in markets rife with foreclosure resales."
http://www.nbcsandiego.com/money/15889949/detail.html?dl=headlineclick
---
Median finally drops back below $400k. The correction continues as expected. I've been looking recently in the San Marcos area and was surprised it has dropped as much as it has so soon. SEH has been holding out above the rest, however that community is full of dreamers.