Home prices in 2013 are rising in East County, reports realtors

Home sales prices in the East County are roughly 13 percent higher through the first two months of 2013, compared to the same period in 2012, according to recent statistics reported by the Pacific Southwest Association of Realtors (PSAR), an industry association that provides educational training, advocacy and other services and resources to its realtor members.
PSAR said the year-to-date average sales price for East County homes through February was $259,199, compared to $228,586 for the first two months of 2012. Sale prices for detached homes in this current calendar year have increased to $362,099 from $324,452 in 2012, a difference of 12 percent, as well as attached homes to $156,299 from $132,721 in 2012, a difference of 18 percent.
PSAR statistics for the East County communities of Alpine, El Cajon, La Mesa, Lakeside, Lemon Grove, Rancho San Diego, Jamul, Santee, Spring Valley and Encanto are compiled monthly by Nikki Coppa, local realtor and PSAR past president, using data from Sandicor, Inc., a corporation owned by local realtor associations that tracks San Diego County’s regional multiple listing service.
“Lack of inventory is the largest challenge facing East County buyers,” said Coppa. “With just slightly over a month of inventory supply in East County, buyers need to act quickly and be prepared to encounter multiple offer situations.”
Coppa added that home prices countywide also are higher, roughly 16 percent, after the first two months of this year to $412,912 from $355,031 in 2012.
The Pacific Southwest Association of Realtors (PSAR), founded in 1928, primarily serves realtors from San Diego’s South Bay and East County areas. In 2012, PSAR became a 1,900-member realtors association following a merger of the El Cajon-based, 800-member East San Diego County Association of Realtors, and the Chula Vista-based, 1,100-member Pacific Southwest Association of Realtors. For more information, visit www.PSAR.org.