Home Sales Jump 17.2 Percent Countywide in July

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Home sales in San Diego County jumped by 17.2 percent in July, compared to the same month a year ago, while prices rose by 5.2 percent, a real estate information service announced Tuesday.

A total of 3,565 homes changed hands in San Diego County last month, compared to 3,041 in July 2011. The median price of a home in San Diego County in July was $342,000, up from $325,000 in July 2011, according to DataQuick.

A total of 37 detached homes have closed escrow in the last 30 days in Santee according to the by .

A total of 20,588 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in July, according to DataQuick. That was down 6.7 percent from 22,075 in June, and up 13.8 percent from 18,090 in July 2011.

The median price for a Southern California home was $306,000 last month, up 2 percent from $300,000 in June and up 8.1 percent from $283,000 in July 2011.

"Even adjusting for changes in market mix, there's growing evidence prices have crept up in areas where more demand has met a shrinking number of homes for sale," said John Walsh, DataQuick president. "But we're approaching the peak of the traditional spring-summer home-buying season. Whether these trends hold into the fall and winter isn't clear.

"If they do, then logically the number of homes on the market would eventually rise to meet the demand."

-City News Service

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