Sales of New Homes Up 34% in San Diego

Sales of new housing jumped 34% from February to March in San Diego County, according to a report just released by Insites, a monthly survey of all tract housing in Southern California, sponsored by Founders Title Co.

The sales surge was attributed to lower prices and interest rates. The report showed a total of 1,081 single-family and 770 condominium homes sold during March, with the county’s 319 active projects averaging sales of nearly 1 1/2 units per week.

“There were nearly 300 more single-family home sales in March than in February,� according to Steve Bottfeld, Insites’ president, while Mervyn Morris, senior vice president and county manager of Founders Title, added, “There were nearly 200 more condominium sales in March than in February.�

The report said the median price for a single-family home sold during March was $134,285, a 2% decline from February but a 2.5% rise from a year ago, The median price for a condominium sold in March was $96,388, 2.5% above February but 5.5% below a year ago.