$202,240 in January : Average House Price Up 11% in S.D. County

The average price of a single-family house in San Diego County rose by 11% during January to $202,240, up from $182,320 in December, and up by 30% from $155,438 in January, 1988, according to statistics provided by the San Diego Board of Realtors.

Despite the rapid price increase, demand remained strong. The total resales of houses and condominiums was 1,095 in January, up 64% from the year-ago total of 669, said Karen Rountree, spokeswoman for the realty board.

Board President Chuck Hoffman said the 64% increase in total sales was “not as dramatic as it really appears.” January statistics, which include houses brokered by member agents in the cities of San Diego, Chula Vista and El Cajon, reflect sales that were in the works in November and December.

“It looks like a lot of people for some reason closed a lot of transactions at the end of the year, which is somewhat unusual . . . . I think it will take February’s numbers to tell exactly what happened,” Hoffman said.