San Diego Prices "Only" Up Double Digits
San Diego may be the most vulnerable housing market in the US. Yet this is what they consider "cooling off". "The county's overall median price in April was $484,000, up 10.3 percent from a year ago and the lowest year-over-year increase for any month since the 10.1 percent increase recorded in January 2000. The median was $7,000 higher than in March and $45,000 higher than in April 2004."
"Single-family resale homes rose to a record of $540,000, but they were up only 11.3 percent from a year earlier. Resale condos also hit a record, $395,000, up $15,000 from March and 16.5 percent"
"Sales totaled 5,345 last month, up from March as is typical in the spring but down 12.3 percent from the frenzied activity of April 2004."
"DataQuick analyst John Karevoll said he gets more calls about San Diego from East Coast financiers than for any other market he monitors. 'We're being watched,' Karevoll said. 'We're under the magnifying glass.'"
"Anne Throckmorton said that most real estate professionals remain optimistic. 'We went around our group, asking about each state's market areas, and there wasn't one area where the market was down,' she said. 'It was a very ebullient attitude.'"