2006 San Diego Real Estate Market

San Diego County home prices bounced back above $500,000 in February, but sales continued to slow as rising interest rates put pressure on buyers stretching to get into their first home.

DataQuick Information Systems reported that the median sales price last month was $502,000, up $12,000 from January and 6.4 percent higher than a year ago.

The San Diego Association of Realtors said unsold listings stand at their highest level in eight years of record keeping. It's taking an average of 68 days to sell a single-family home, up from 59 days a year ago. The slowdown comes as lenders have become more cautious and as mortgage interest rates head up.

 

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