San Diego Area Housing Price Decline

The San Diego Union-Tribune reports:

San Diego County housing prices continued their slide in August as home sales dropped to a 15-year low, DataQuick Information Systems reported yesterday.

The market's decline, a 4 percent drop in price from August 2006 to a median of $475,000, was propelled by relatively strong sales of lower-priced condominiums pushing down the overall median, DataQuick said.

Grim as the news was, it was worse for other counties in Southern California, DataQuick said, where sales volume was off by nearly half from a year ago.



San Diego County's August median of $475,000 was off $14,000 from July and $20,000 from August 2006. The median represents the midpoint of all sales prices with half above and half below the figure.

The August median showed the biggest monthly decline since prices fell $23,000 to $472,000 from December to January, when high-priced new housing sales were comparatively scarce.

Judged by the median, housing prices here were down $42,500, or 8.2 percent, from the record level of $517,500 posted in November 2005.

Good luck.