The inventory of available homes for sale has increased dramatically in the San Diego area, with news homes continuing to be constructed. This had led the way for a buyers market at this time.

Lisa Blanchard, a Realtor in the region, has reported current statistics of a slightly decreased median home price in October of $505,000.

Year-over-year price of detached homes actually decreased 4.82 percent from last October.

Days on market have increased on slightly, from 52 to 61 days -- a symptoms of increased inventory levels.

Huge price decreases over the last few months have created some incredible deals. With a huge inventory of properties, historically low interest rates, and home prices that in some areas have dropped to 10 year lows, homebuyers are likely to find this an opportune time to purchase their dream home.

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Published: December 5, 2007

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