Downtown San Diego had a strong month with 92 sales, up from 75 last month with cash buyers still accounting for 46% of the market. The majority of sales (69%) are under $500,000 and low inventories continue to be the norm in San Diego County. This seems in line with the majority of the southern California real estate market.
Southern California home sales rose sharply in October as move-up buyers joined investors, shifting the mix of homes selling up a notch as foreclosure re-sales hit a five-year low. The median price paid for a home rose nearly 17 percent from a year earlier, a real estate information service reported.
A total of 21,075 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was up 18.0 percent from 17,859 sales in September, and up 25.2 percent from 16,829 sales in October 2011, according to San Diego-based DataQuick. Here is the entire DQ News article.