Real estate prices in San Diego rise in February and exceed nationwide trends

Real estate prices in San Diego County rose in February compared to the previous month, and they were even higher than the real estate prices a year ago, the California Association of Realors said on Tuesday.

The median price of USD 1.04 million for an existing family home last month reflected an increase of 1.0% compared to the sales price of USD 1.03 million in the San Diego region. According to a car force, the number in February was 6.1% compared to $ 980,000 a year ago.

The nationwide medium -sized home price in February was $ 829,060, which decreased by 1.2% in January, compared to $ 806,480 in February 2024.

Nationwide, according to Car, it also found that California's outstanding turnover in February in the third month in a row in the previous year had dropped, but the decline was much smaller than the decline observed in January. The amount of sales in the trust could be attributed to a jump in the mortgage interest in early February, but the growing concern of the public about recession could also have played a role in slowing down the living requirements in recent weeks, the report says.

The nationwide average price in February rose in the 20th month a year compared to the previous year, but according to Car, the profit recorded was the smallest since July 2023.

According to a monthly basis, the median price in February fell compared to the previous month, and the monthly decline was larger than the historical average list of 0.7%between the two months. The downward trend in the nationwide average price will probably turn back in the coming months, since real estate prices in March usually increase and continue to rise until the end of the homebuying season in August.

“The sales of California recovered in February after a slow start to the year, which was supported by increased buyer activities and more available houses on the market,” said Car President Heather Ozur in a statement.

“Lower loan costs, which had previously been advised by affordability problems, have made more accessible, while the increase in the available inventory will contribute to facilitating part of the competitive pressure that has defined the market in recent years and has set a positive sound for the market for the rest of the year.”

The average number of days to sell a single -family house in California was 26 days in February, compared to 22 days in February 2024.

The City News Service contributed to this article.