Real Estate

Poway Helps Set Pace in Hot San Diego County Housing Market

North inland areas like Ramona and Rancho Bernardo keep pace in May in the midst of a county-wide price boom.

If you're interested in buying or selling your home, these facts from May should tell you a lot – the market is gaining ground fast.

  • The median price of a single-family home in San Diego County was $466,000 in May, up 22.6 percent from a year ago and 3.6 percent higher than April, the San Diego Association of Realtors reported online.
  • More than 2,400 houses were sold last month, up 15.5 percent from April and 10.2 percent from May last year.
  • The number of days a house spent on the market dropped by nearly one-third in the first five months of this year, compared to the same time last year.
In the North inland market:  

  • In Rancho Bernardo, the average median price across the community's two zip codes was $713,625, up from the year-to-date trend and nearly 24 percent as compared to May 2012; 117 homes sold last month. 
  • In Poway, the median price for May was $652,500, more than 10 percent above the year-to-date pace and a notable 31 percent above the May 2012 numbers; 62 homes sold during the month.
  • In Ramona, where 42 homes sold in May, the median price was up slightly to nearly $358,000, which was nearly 20 percent more than the May 2012 median.
  •  

As far as condominiums and townhouses, the median price in the county was $305,500 in May, up 32.8 percent from the same period a year ago and 5.9 percent from April.

In May, more than 1,000 condos or town homes changed hands – a 9.6 percent hike from the same month last year.

– City News Service contributed to this report.


Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.

We’ve removed the ability to reply as we work to make improvements. Learn more here