October Home Sales

Home sales in North San Diego in October seem to be improving, despite problems with the lending industry. Sales of both attached and detached homes in North County decreased 1.33% in October from September. Here are the October statistics, according to HomeDex:

Detached North County Homes:

Median price  $430,000

Average Price:$539,127

Total units sold:  772

Median market time:  35 days

Attached North County Homes:

Median price:  $239,250

Average price:  $289,869

Total units sold:  314

Median market time: 38 days

An article in the paper this morning predicted that the market prices will rise in 2010 and that there are more buyers purchasing homes now than there have been in a long time. This is predicated upon two main factors–housing prices being lower and the federal tax credit to first time homebuyers. Now that the tax credit has been extended AND expanded to include ALL buyers (who meet the criteria), many Realtors feel this will continue to boost sales.

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