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CAR: San Diego County Home Prices in April Edged up from March

SAN DIEGO - Prices of homes in San Diego County edged up in

April for the second straight month, but still remained below the prices of a

year ago, the California Association of Realtors reported today.

The median sale price of a single-family home in the county was

$930,000 last month, up from $915,000 in March, but down from $975,000 in April

2022, according to the association.

In April, San Diego County's ratio of new houses for sale to new

houses sold was 1.9, a slight rise from 1.7 in March. The ratio in April 2022

was 1.6, according to CAR's survey. Time on the market last month was 12 days.

Statewide, April's sales pace was down 4.7% on a monthly basis from

281,050 in March and down 36.1% from a year ago, when a revised 418,970 homes

were sold on an annualized basis, the report stated.

Sales of existing single-family homes in California remained below the

300,000-unit pace for the seventh consecutive month in April.

``While home sales declined in April, the market is getting more

competitive as we're seeing time on the market before selling down to 20 days

in April from 33 days in January and the share of homes sold above asking price

double from one in five at the beginning of the year to more than two in five

in April,'' said CAR President Jennifer Branchini.

``This increase in market competition continued to provide support to

the statewide median home price in April, which climbed above $800,000 for the

first time in six months.''


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