SAN DIEGO (CNS) - Home sales rebounded across California last month, increasing on both a month-to-month and year-to-year basis, but were down slightly in San Diego County, the California Association of Realtors announced Wednesday.
Closed escrow sales of existing, single-family detached homes in San Diego County were down 2% from August's numbers, but were up 14% year-over- year.
Statewide, September sales were up 5% from the previous month, and 6.6% year-over-year.
"The housing market showed modest improvement in September, with both sales and prices up from a year ago," CAR Senior Vice President and Chief Economist Jordan Levine said in a statement. "Steady mortgage rates may give demand a small boost heading into the fourth quarter, but broader economic uncertainty -- like the ongoing government shutdown and renewed U.S.-China trade tensions -- will likely keep the recovery gradual."
The yearly sales numbers reported by CAR are on a seasonally adjusted annualized rate, adjusted to account for seasonal factors that typically influence home sales.
The median selling price of an existing, single-family home in California dropped 1.7% in September to $883,640, but that was still 1.8% higher than last year's $868,150. The monthly decrease aligns with the long- term average decline of 1.8% between August and September, according to CAR.
In San Diego County, the median price of an existing, single-family home fell under $1 million last month, decreasing 3.4%, from $1.025 million to $990,000. That's down 1% from September 2024.
The highest median price in California in September was San Mateo County's $2.15 million. The lowest was Trinity County's $210,000.
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