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Median Price For Homes Still Strong

Strongest Increase In South County Homes

POSTED: 3:25 pm PST January 23, 2005
UPDATED: 3:36 pm PST January 23, 2005

Despite predictions of a slowdown, the cost of San Diego houses shot up again last year.

A look at the historical trends shows which neighborhoods appreciated the most.

Realtor Casey Ralston said the housing market has slowed, with houses sitting for two months on average, but prices have not retreated.

"You have a lot of people who are moving up from a three -bedroom that they bought three years ago and are cashing in on hundreds of thousands of dollars of equity and moving into something that has 5 bedrooms or a large lot," Ralston told 10News.

Historically in San Diego, home values doubled every 12 years. But, recently prices have far outpaced the previous numbers.

In 1988, the median price was $145,000. The median price went up, then dipped in 1995, and then recovered, landing last year at $498,000.

The South County region had the highest appreciation last year over any other region in the county. The median price there increased 31 percent, 10News reported.

The community of Chula Vista was outpaced only by communities of Solana Beach and Del Mar.

Overall in San Diego County, the median prices rose 26 percent last year.

To to see the prices in your neighborhood DataQuick Real Estate News has created a list on their Web site.

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