SAN DIEGO (CNS) - Single-family home prices in San Diego County hit a record high in May, according to housing statistics released Thursday by the Greater San Diego Association of Realtors.
The median single-family home price was $650,000 last month, a 5 percent increase over April. Meanwhile, attached properties, including condominiums and town houses, settled at a median price of $421,000, just more than 2 percent over April numbers.
Overall, resale property home prices have seen a year-over-year increase of 6.5 percent, according to GSDAR.
For 2018, however, sales of existing homes are down nearly 8 percent from last year. Supply is low, but demand remains high.
Homes don't stay on the market long. In May, single-family homes were closing escrow in an average of 26 days, while attached properties closed in only 21 days.
"Prospective home buyers should expect a competitive housing market throughout the summer," SDGAR President Steve Fraioli said. "Fortunately, the low inventory of homes for sale doesn't seem to be dampening their demand."
North Oceanside had the most single-family home sales last month, with 63. Carmel Valley, north Escondido and Fallbrook came next, with 58, 53 and 51 sales, respectively.
Traffic was snarled mid Saturday morning after an accident involving four military Humvees closed lanes on northbound Interstate 5 near Cannon Road.
This week’s storms caused a major headache for a number of San Diegans with widespread flooding across the county.
On December 8th, 2008, tragedy struck in University City after an F-18 fighter jet came crashing down striking two homes.
Temperatures will begin to rise through the weekend under high pressure and weak offshore flow. Cool temperatures return early next week.
A man drowned while trying to swim across an Imperial County canal after illegally entering the United States on Wednesday, U.S. Customs and Border Protection officials said.
The National City Police Department will have more officers on the road keeping watch for drivers under the influence of alcohol or drugs this holiday season, officers announced on Saturday.
A California Highway Patrol officer has been arrested on suspicion of committing sexual misconduct with two teenage girls.
The small desert community has watched the 16-acre project come to life since construction began in October 2017.