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A Drop in Home Prices Nearly 35%

By Mike in Downtown San Diego Real Estate Market Analysis|January 2009 with 0 Comments


Homes for Sale in Downtown san DiegoMDA, Data Quick, a real estate tracking firm, reported Monday that the median home price in a six-county region of SoCal was $278,000 last month, compared to $425,000 in December of 2007.

In addition, foreclosures accounted for 55.7 percent of December’s sales in Southern California. Inversely, home sales rose steadily as eager buyers took advantage of these record low prices.

Our take? We’ve seen prices drop, aboslutely. But, sellers are still selling and this has created an ideal situation for those wishing to purchase a Downtown San Diego Condo or Loft at a discounted price.

See the entire article at NBC San Diego.com.