LA JOLLA (CNS) - Home sales in San Diego County fell 25.1 percent in October, compared to the same month a year ago, while prices increased 2.9 percent during the same period, a real estate information service reported Tuesday.
A total of 2,750 homes changed hands locally last month, compared to 3,671 in October 2009, according to La Jolla-based MDA DataQuick. The median price of a home in San Diego County in October was $334,500, up from $325,000 in October 2009.
A total of 16,744 new and resale houses and condos sold in the six-county Southern California region - Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties - in October, according to DataQuick. That was down 7.4 percent from 18,091 in September, and down 24.3 percent from 22,132 in October 2009.
October's home-sale figures were at their lowest level in three years.
"In addition to a lousy economy, the housing market still has a couple of nasty bottlenecks it has to contend with," said John Walsh, MDA DataQuick president. "First, sales of newly built homes are at a low, mostly because builders can't build at a low enough price to compete with the inventory of
resale homes, many of which are short sales or foreclosures.
"Also, lenders still haven't opened the mortgage money spigot for buying move-up and prestige properties," he said. "These properties have come down in value by about half as much as entry-level homes. But trying to finance a higher-end purchase can be a real grind, even for well-qualified buyers with a 20 percent down-payment."
The median price for a Southern California home was $283,000 last month, down 4.2 percent from $295,500 in September, and up 1.1 percent from $280,000 in October 2009, according to DataQuick.
National City police were responding to a shooting scene with "multiple victims'' Saturday morning, but it was unclear if there were any fatalities, according to officials.
Extremely hot weather in San Diego County's deserts is expected to persist Friday through early next week and temperatures in other inland areas will spike on Sunday.
A 30-year-old man who was hit by a car in San Marcos while jaywalking Saturday morning died in a hospital, according to San Diego County sheriff's officials.
A town hall meeting meant for veterans to share their experiences with civilians who haven't gone through combat is scheduled for Saturday in El Cajon.
A 12-year-old Oceanside boy who went missing from a Kaiser hospital in Irvine was found safe Saturday morning in Mission Viejo and turned over to a family member, according to Irvine police.
Two Subway sandwich shops in San Diego were robbed at gunpoint Friday, possibly by the same masked thief, authorities reported.
Home surveillance cameras captured two women stealing mail right out people’s mailboxes in a Rancho Penasquitos neighborhood this week.
Short-term lodging service Airbnb on Friday released a report about the $420 million impact it has on San Diego’s economy.
This year marks the 50th anniversary of one of San Diego's most treasured attractions - SeaWorld's Bayside Skyride. Since 1967, more than 20 million guests have soared above Mission Bay on its iconic gondolas.
Investigators working to identify and track down a man who fatally assaulted a well-liked transient in downtown Ocean Beach released surveillance-camera footage of the suspected killer Friday.