Coastalhomefinder.com

Home prices and numbers of sales up in May, inventory down

North San Diego County home prices continue upward movement month over month, while bargain hunters have been snapping up homes that are down 22.1% from last May. The price of detached homes in North San Diego County increased 1.79 percent, from April 2009 to May 2009, up to a price of $397,000 from $390,000.

Attached home prices in North San Diego County increased during May 2009 by 9.64%, from

$197,000 in April 2009 to $216,000 for May 2009.

North San Diego County Median price for detached homes now sit at $397,000 and for attached homes we are at $216,000.

The average price in May 2009 is $535,960 for a detached home and $254,664 for attached homes in North San Diego County. 

The number of homes closed in May 2009 is up from April 2009 by 7.75% and from May closing are up almost 7%.

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Home Inventories continue to go down in North San Diego County

Active single family detached listings in North San Diego County decreased from 4,102 at the end of April 2009 to 3,207 active detached listings at the end of May 2009. In May 2008 the inventory of detached home stood at 5,807. The current inventory is 44.77% below May of last year.

Coastalhomefinder.com expects prices to move up next month as well based on several factors. Inventory is lower, the number of home buyers active in the market is up and increasing mortgage rates from historically low levels could prove to be the lever that pushes many buyers off the fence towards buying a home now.  Check in next month to see what the North San Diego County home market does in June.

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