April 19, 2024
A newly bought house in Encinitas. REUTERS/Mike Blake

Gross sales of beforehand owned houses in San Diego County noticed a soar in February over the earlier month, whereas costs continued their upward pattern, the Larger San Diego Affiliation of Realtors reported Monday.

Single-family house gross sales rose by 20% in comparison with January, and gross sales of hooked up condominiums and townhomes elevated by 24%. Gross sales of all property varieties have been up virtually 7% over February 2023.

The median worth of single-family houses within the county additionally noticed a big enhance in February to simply over $1 million, up practically 7% from January and greater than 16% increased than a yr in the past. Condos and townhomes edged up by 2% to $662,000, a rise of seven% from February 2023.

“We’re excited to see the rise in house gross sales as we enter the 2024 Spring shopping for season,” mentioned affiliation President Spencer Lugash. “SDAR anticipates that gross sales will proceed to rise because the Federal Reserve signifies the potential reducing of future rates of interest.”

In February, the zip codes in San Diego County with probably the most single-family house gross sales have been:

  • 92028 (Fallbrook) with 31
  • 92026 (Escondido North) and 92057 (Oceanside North), each with 30
  • 92021 (El Cajon) with 27
  • 92064 (Poway) and 92068 (Ramona), each with 25
  • 92977 (Spring Valley) with 23

The most costly single-family property bought final month in San Diego County was a Spanish property close to the seashore in Coronado on F Avenue. In-built 1925, the historic landmark sits on one of many largest tons in Coronado with a 13,000-square-foot foremost home, a sprawling visitor home and personal backyard sanctuary. It bought on Feb. 2 for $28 million.