Median Home Prices in Santee Up $72,750 Since Last Year

Santee homes and condominiums are selling at a higher median price and quicker pace than the same time last year, according to data released by the San Diego Association of Realtors last week.

A total 44 homes were sold in Santee in August, compared to 33 in the same month last year. Year to date median home prices rose from $329,000 to $401,750, a 22 percent increase.

Condominiums sold in August spent an average 41 days on the market compared to 124 days in the same month last year. Homes spent an average of 50 days on the market in August compared to 66 days in the same month last year.

Year to date the total number of homes sold is up compared to the same period last year, with 326 in August and 287 through August 2012.

Year to date attached condominium or townhouse sales saw a slight decline from 38 through August 2012 to 27 through August 2013. Median price for attached properties sold saw a 8 percent increase from $200,500 to $216,500. The median sales price of attached properties was down $9,000 compared to the year average.

In San Diego County, single family home sales in August decreased by about 3 percent compared to July, while sales of condominiums and town homes were virtually unchanged, SDAR reported.

"Interest rates are still at historic lows," said Linda Lee, SDAR's Board President. "That, combined with the increases in inventory means the San Diego real estate market remains very active for buyers and sellers."

The median price of single-family homes sold in August was $483,000, down slightly from July, but still 23 percent higher than a year ago. For attached properties, the median price stood at $310,000, down about 3 percent from the previous month, but up 29 percent from last August.

Home sales jumped across Southern California, according to DataQuick.