Blog: Dermot Cole
Bargain home prices are relative
Published Tuesday, October 21, 2008
We had a story today on home sales in which a resident was quoted on plans to move to San Diego to be nearer to relatives and to take advantage of the rock-bottom real estate prices.
Rock-bottom is relative.
According to KPBS in San Diego, there were 3,366 homes sold there is September.
"The median price of a home in San Diego County last month was $328,000, down from $470,000 in the same month a year ago," the radio station reported.
I don't have a chart on median prices in Fairbanks, but the average sale price this year, on a total of 692 home sales, is $218,355.
The average was $223,852 during all of 2007.
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