SAN DIEGO (CNS) - The median price of a single-family home sold in October in San Diego County was $496,750, down 3 percent from September but 5 percent higher than the same time last year, the San Diego Association of Realtors reported.
The SDAR's data presented a mixed bag after signs in recent months that the once-hot market was beginning to slow down.
An attached home changed hands at a median price of $337,500 last month, unchanged from the month before and up 14 percent from a year earlier.
The numbers are encouraging because they show the local real estate market is becoming more balanced, said Leslie Kilpatrick, president of the SDAR Board of Directors.
"Homes aren't staying on the market long, so homeowners who are thinking of selling are in a good position," Kilpatrick said. "While inventory has grown, the most sought-after properties sell quickly, so buyers need to be prepared to act. This is not the time to sit on the sidelines if a move is in your future."
The SDAR reported that 1,764 houses were sold last month, 2 percent more than September, but 7 percent fewer than the same period in 2013. For condominiums and townhomes, 835 changed hands in October, down 3 percent for the month and 12 percent for the year.
The number of active listings on the Multiple Listing Service in San Diego County is just under 8,000, representing three months of housing stock, according to the SDAR. The organization said six months is considered a healthy inventory level.
Homes on the market are being snapped up, on average, within 45 of being listed, the SDAR data showed.
San Diego police are investigating a rapid increase in the number of cases of stolen catalytic converters from cars.
A 19-year-old man accused of groping and sexually assaulting four female students as they walked to their off-campus housing near San Diego State University must stand trial on seven charges, including false imprisonment and sexual battery, a judge ruled Tuesday.
Authorities Tuesday asked the public for help in identifying a fast-working crew of burglars who broke into a luxury-goods retailer at Fashion Valley mall and made off with more than half a million dollars' worth of merchandise.
Mayor Kevin Faulconer departed Tuesday for a three-day trip to Washington, D.C., where he plans to advocate for modernization of the North American Free Trade Agreement and increased funding to combat homelessness in the region.
You may have heard the term 'Real ID,' which is an enhanced identification card that California residents can start applying for now
County Supervisors are considering a plan to improve fire detection in the region. It would include installing high-definition cameras on five more mountain peaks to better connect firefighters with real-time fire activity.
One of the world's most private art collections will now be on display in San Diego. It's called Modern Masters and this is also the first time the pieces from Latin America will be on view in the U.S.
We make it a point on Morning Extra to highlight San Diegans who are doing amazing things in our community.