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In October, the local Realtors association saw declines in total sales volume to the tune of nearly $200 million in attached homes like condos and townhouses, and more than $400 million for single-family, detached homes compared to the same month a year ago.
The report, released today, attributed the financial fall to a 35-percent decline in the number of attached homes sold (678 in October vs. 1,049 a year ago) and a 29.22 percent decline in the number of detached home sales (1,354 last month vs. 1,913 in October 2005).
Median prices in both markets suffered year-on-year drops – down 4.63 percent to $370,000 in the attached market and down 3.5 percent to $550,000 for detached homes.
But those prices were up from September, by 3.27 percent in condos and townhouses, and by 4.41 percent for detached homes.
So far this year, members of the San Diego Realtors Association have completed $15.8 billion in sales, compared to $21.1 billion that had been logged in the first ten months of 2005.
Attached homes had sat on the market for an average of 72 days – and detached homes for 71 days – before selling in October, the SDAR reported. The year-on-year comparison shows an extra 13 days for attached over last year and a 15-day increase in detached.