San Diego housing prices decline, sales up - San Diego, California News Station - KFMB Channel 8 - cbs8.com

San Diego housing prices decline, sales up

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SAN DIEGO (CNS) - Housing prices in San Diego County inched down last month, but the number of sales increased, according to data released Friday by the San Diego Association of Realtors.

The median price of a single-family home that sold in February was $470,000, down 1 percent from January, according to the report. More than 1,300 houses changed hands, up 8.4 percent from the previous month.

For attached residences, the median price in February was $299,900, down 1.7 percent. There were 721 sales -- 5.6 percent higher than January.

When compared to February of last year, the median price for a house was up 14.6 percent and number of sales down by 11.5 percent. The median cost of a condominium or townhouse was 20 percent higher than the same period last year, while the number sold was 5.4 percent lower.

"As we would expect to see following a seasonally-slow January, home sales started to pick up in February," said SDAR President Leslie Kilpatrick. "I'm hoping and anticipating we will see `For Sale' signs blossom as we head into spring."

SDAR data shows the median price of houses and condos has remained relatively stable over the past few months. However, the number of single-family homes that have changed hands has steadily declined from a recent high of more than 2,400 sales last May.

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