La Costa homes for sale market, is part of the larger San Diego County and Southern California housing markets, saw a decline in both sales volume and median sales prices. According to statistics provided by DataQuick, the number of homes purchased in San Diego County over April 2011 declined by one half of one percent compared to year ago levels. This was roughly consistent with the larger trend of the state, although the rest of California experienced a sharper drop in sales volume than San Diego individually. Similarly, the median sales price of a San Diego single family home fell by just over one percent in April 2011, moving from $325,250 in April 2010 to $321,750. In short, the nascent recovery that seemed to be building in the San Diego area is having trouble gaining momentum. Figures from DataQuick indicated that this same problem has afflicted the larger Southern California region. The number of home sales throughout Southern California in April 2011 decreased by more than nine percent compared to year ago levels and was in fact the poorest April performance in three years. The median sales price for Southern California was slightly below the median figure for San Diego, clocking in at $280,000.
One factor that has continually depressed the median price figures for San Diego in general and La Costa in particular is the prevalence of distressed properties and foreclosures throughout the area. According to numbers released by DataQuick and reported by the San Diego Union Tribune, there were a total of 1,452 notices of default issued in April 2011. That number actually represented a decrease of twenty one percent compared to last month and a decline of more than thirty percent relative to year ago levels, but that statistic is best understood as a result of a backlog of foreclosures throughout the region. There were 946 competed foreclosures reported in April 2011, marking a decrease of twenty two percent from year ago levels and a decline of slightly less than ten percent from last month. Unfortunately, the prevalence of distressed properties in the region indicates that the number of foreclosures may well surge again at some point in the future.