Chula Vista Home Sales Continue to Slide

The median price for single-family, re-sale homes in San Diego County rose 0.9% in April from March, and were up 1.7% year-over-year.

These numbers are suspect as the market has split due to the tightening of loan requirements, which has dampened the entry-level and move-up markets. These numbers are higher than reality because the $1,000,000+ market, which is not affected by loan tightening, is a larger percentage of sales than normal.

This can be seen in the average price, which is up 2.9% year-over-year. A higher percentage of $1,000,000+ sales drives the average price up faster than the median price.

Home sales fell in April, reflecting the fall-off in demand at the entry and move-up levels, dropping 2.6% from March, off 15% compared to April 2006.

The median price for condos fell 2.7%, down 3.9% compared to last April. Condo sales rose 3.3% month-over-month, but were off 3.6% compared to last April.

http://www.rereport.com/sdcsc/recs/index.html