Single-family home sales in SD down 13.8 percent from 2010 - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Single-family home sales in San Diego down 13.8 percent from last year

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SAN DIEGO (CNS) - The number of houses and condominiums sold in May in San Diego County dropped sharply compared to the same month last year, and median prices also tumbled, the San Diego Association of Realtors announced Wednesday.

The number of single-family homes sold in May 2011 was down 13.8 percent from May 2010, according to SDAR statistics. Condo sales dropped 19.5 percent in the same period.

The median price of a detached home last month was $380,000, compared to $391,000 in May 2010, according to the organization. For condos, the median price was $214,500, down from $237,000 one year earlier.

Year-to-date sales trends also showed a decline. Through last month, the 2011 sales total was 8,125 single-family homes and 4,351 condos. Through May 2010, the number of detached homes sold was 8,574, while 4,866 condos were sold.

According to a ZIP code breakdown provided by the association, large declines in year-to-date sales of houses compared to last year have taken place in the Eastlake section of Chula Vista, Imperial Beach, Lemon Grove, northern El Cajon, Encinitas, northern Escondido, northeastern Oceanside and northern San Marcos.

Within the city of San Diego, major declines were seen in College Grove, East San Diego, Otay Mesa, Pacific Beach, Paradise Hills, Rancho Bernardo, Scripps Ranch and Serra Mesa.

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