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Prices of Houses in San Diego County Rise, Condos Decline

April 24, 1988

The median price for detached houses in San Diego County rose to the second highest level in history during the first three months of this year, while the median price of condominiums and townhouses plunged 18%.

This took place against the background of a housing market that was rebounding in spite of existing and proposed growth-control ordinances, according a study by the Del Mar-based Meyers Group.

The study shows that 3,232 new houses of all types were sold during the first quarter, compared to 2,753 in the last quarter of 1987, a 17% increase. Meanwhile, the number of unsold new units reached the lowest level in recent history.

The median price for detached housing, which accounted for 71% of first-quarter sales, rose to $154,990, 3.3% higher than the median of $149,990 for the past two quarters. This figure was second to the all-time high median of $157,900, set in the first quarter of 1987.

Conversely, the countywide median price of attached housing--condos and townhouses--dropped to $105,950 from the all-time high of $129,000 in the last quarter of 1987.

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