San Diego Home Prices on the Rise Again

The median price of homes sold in San Diego County for both January and February was $445,000.  However for the first 2 weeks of March the median price has risen to $460,000.  This could be evidence of more upward pressure on prices.

Prices are also up 6% over last year.  The median price in March 2014 was $433,000.  

Contributing to the price increase is the low number of homes for sale.  Currently we have about 2.5 months of inventory for sale.  In the past San Diego home inventory has been as high as 6 months.

Mortgage rates for a 30-year fixed loan for a borrower with good credit are currently around 3.9%. 

If you're looking to make a move, now may be a good time.  Let me know if I can provide a list of recent comps in your neighborhood, or a list of homes for sale in the areas where you may be interested in buying.