Why did we get higher home sales in the month of August 2012? I can think of a few off the top of my head they include:
  • All time lows in Mortgage Rates
  • Cash only sales from Investors - cash rich get more bang for their buck.
  • Home price medians are still at historical lows, the median price paid for a home in California last month was $281,000.
  • Foreclosed properties made up a smaller part of the sales mix, making for quicker closing transactions
Visual Recap of San Diego County for August 2012

AUGUST 2012 San Diego County
Detached Homes
Attached Homes
 
 
 
Total Sales Volume August 2012
$1,201,137,190
$314,601,166
Average Sales Price August 2012
$533,839
$309,342
Median* Sales Price August 2012
$392,250
$240,000
Sold Listings August 2012
2,250
1,017
Average Days on the Market August 2012
75
85
*The median home price is the price where half of the homes sold for more and half sold for less. It is a more typical price measure than average, which can be skewed high by a relative handful of million-dollar plus transactions.
 
For more details see this report by the San Diego Association of Realtors.