SD Union Trib: San Diego Median Home Price Down almost $90K from 2005 Peak

[El Pinko]

http://www.signonsandiego.com/news/business/20080212-1129-bn12housing.html


County's median house prices hit 4-year low


By Roger Showley
UNION-TRIBUNE STAFF WRITER
11:29 a.m. February 12, 2008
San Diego County median home prices dipped $1,000 from December to January to a four-year-low of $429,000, DataQuick Information Systems reported Tuesday. Sales activity of 1,826 transactions was the second lowest for any month on record.

The overall median was down 17.1 percent from the peak set in November 2005 of $517,500, while the monthly sales count was off 72.4 percent from the monthly peak of 6,605 set in August 2003.

Steep declines were concentrated in the resale house category, whose median dropped $19,500 from December to $451,500, the lowest since February 2004, and down 16.4 percent from the year-ago level of $540,000. The 995 sales recorded in January were the lowest since DataQuick began keeping records in 1988.

Resale condos also showed a decline. The median price stood at $300,000, compared with $311,000 in December and $380,000 a year ago, a 30 percent slide. Sales totaled 443, down from 521 in December and 633 a year ago.

[Trajan]

1. San Diego was WAY overinflated

But damn; it sure is nice there ....

Same with Frisco ..... expensive and fucking gorgeous ....

[The_Casual_Observer]

2. It's still about 3x too expensive. It's got a long way to go.