REALTOR. Upcoming International Congress Touts San Diego Real Estate THE SAN DIEGO FOR MORE INFORMATION GO TO PAGE 8

WHAT S HAPPENING AT SDAR APRIL 2015 THE SAN DIEGO REALTOR WWW.SDAR.COM THE TRUSTED VOICE OF SAN DIEGO REAL ESTATE Upcoming International Congress Touts San Diego Real Estate FOR MORE INFORMATION GO TO PAGE 8

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APRIL 2015 Table of Contents KEARNY MESA 4845 Ronson Court San Diego, CA 92111-1803 P: (858) 715-8000 F: (858) 715-8088 CORONADO 120 C Avenue, Suite 140 Coronado, CA 92118 P: (858) 715-8068 F: (619) 435-5383 CARLSBAD 1850 Marron Road, Suite 104 Carlsbad, CA 92008 P: (858) 715-8065 F: (760) 434-9902 EAST COUNTY 220 West Main Street El Cajon, CA 92020 P: (858) 715-8069 F: (619) 590-1470 RANCHO BERNARDO 16383 Bernardo Center Dr. San Diego, CA 92128 P: (858) 715-8067 F: (858) 592-7179 SOLANA BEACH 981 Lomas Santa Fe, Ste. E Solana Beach, CA 92075 P: (858) 715-8061 F: (858) 509-4805 SOUTH COUNTY 300 East H Street, Suite 1001, Chula Vista, CA 91910 P: (858) 715-8062 F: (619) 656-9332 San Diego REALTOR (ISSN 1096-8210; USPS 479-460) is the official publication of the Greater San Diego Association of REALTORS, which is affiliated with the National Association of REALTORS and the California Association of REALTORS. All copy for publication should be mailed to the Editor, San Diego REALTOR, 4845 Ronson Court, San Diego, CA 92111, by the 20th of the month preceding the month of publication. All copy is subject to editorial approval. San Diego REALTOR and its publisher, the Greater San Diego Association of REALTORS, in accepting advertisement in this publication, make no independent investigation concerning the services or products advertised, and they neither endorse nor recommend the same nor do they assume any liability thereof. The opinions expressed in the articles are not necessarily the opinions of the Greater San Diego Association of REALTORS, NAR or C.A.R., and therefore they make no warranties and assume no responsibility for accuracy or completeness of the information herein. Information should not be relied upon without the consultation of your accountant or attorney, with whom you may wish to discuss the applications of the opinions to facts in individual situations. This is a copyrighted issue. Permission to reprint or quote any material from the issue may be granted upon written inquiry and provided the San Diego REALTOR is given proper credit in all reprinted articles or commentaries. The term REALTOR is a national registered trademark for members of the National Association of REALTORS. The term denotes both business competence and a pledge to observe and abide by a strict code of ethics. *Advertisements that contain offers or solicitation of agents for recruitment purposes are prohibited. ADVERTISING Call Toll-free: (800) 628-6983 for advertising rates and reservations. Foley Publication, Inc. 1720 South Bellaire Street, Suite 601 Denver, Colorado 80222 www.foleypub.com COLUMNS 4 President s Perspective 5 Nominations for 2016 SDAR Directors 6 CEO Report 7 Expo Luncheon: Future of Online Listings 8 International Congress Touts San Diego 9 30 Under 30 Honors Kate Gillingham 10 SDAR Receives Outreach Award 12 Modular, Manufactured, and Mobile 14-15 March Statistics - Detached Homes 16-17 March Statistics - Attached Homes 18 March 2015 Statistics & Graphs 20-21 Risk Management Tools You Can Use 22 March New Members 24 Linda Lee Named to RPAC Hall of Fame 26 YPN Gained Million-Dollar Advice 30-31 Learn the Lingo - Fireplaces 32 SDAR Education Schedule 34 May 2015 Calendar of Events ADVERTISERS Greenpath Funding...2 Best-Rate Repair Company Inc...9 Caliber Home Loans...11 Kinecta Federal Credit Union...13 R-Solution Termite & Construction Inc...13 imortgage...19 Veterans United Home Loans...21 Antimite Termite & Pest Control...21 Guaranteed Rate...23 US Bank...25 Provident Bank...28 Utopia Management...29 3 in 1 Refinishing...33 THE SAN DIEGO REALTOR APRIL 2015 3

PRESIDENT S PERSPECTIVE Home Sales, Prices See Healthy Increase in March CHRIS ANDERSON 2015 PRESIDENT The San Diego residential real estate market showed good strength in March, with sales of previously owned homes up by more than 25 percent over the previous month and 3.5 percent over March 2014 s numbers. Both single-family homes and attached homes saw solid increases, signaling strength across most price ranges. This is always a good sign, as gains in some ranges but not others can lead to imbalance and is a harder market to sustain. All told, we sold nearly 2,700 homes in March! Home prices are also on the rise. Median prices increased 4 percent across the board from February to March. Compared to March of 2014, prices of single-family homes were 6 percent higher ($519,540), and condos/ townhomes were an impressive 15 percent higher ($348,825). Another good sign is the sales rate, with homes remaining on the market about six weeks, or 17 percent less than last month. The overall inventory is still low at 2.8 months and holding steady. We d prefer to see an inventory of five to six months, but we expect that to come as the market gains momentum. We might already be seeing the beginning of that -- active listings on the Multiple Listing Service (MLS) have risen to just over 6,100. Sales volume was strongest in North San Diego County, with the most closings in Encinitas (54), Fallbrook (49) and Rancho Bernardo (47). East County also had a good showing, with 46 homes sold in Santee. As is often the case, the most expensive listing sold was a coastal home, this one a 45-year-old 3-bedroom, 4-bathroom, 6,300-square-foot home on the La Jolla coastline. Sales price was just over $14 million. The March housing numbers are very encouraging. We expect the trend to continue through the spring, so look for stronger home sales, steady appreciation and more inventory. Spring is one of our best selling seasons in San Diego, and this year is not going to be the exception. Compared with the rest of the country, the San Diego market is performing well. The National Association of REALTORS reported modest growth in sales nationwide in February, and like San Diego, the rest of the country is suffering from an insufficient supply of for-sale homes. The result has been upward pressure on prices. While that is a boon for homeowners, it represents a problem for many buyers. Looking on the bright side, San Diego didn t have to deal with the worst Mother Nature had to dish out, with severe belowfreezing weather depressing sales in the Northeast. Instead, we are unfortunately in the throes of a historic drought, which could hamper new home construction and further squeeze inventory. If you re like me and can t get enough of the numbers, SDAR keeps all the statistics you d want, compiled monthly at www. sdar.com/stats. Chris Anderson 4 THE SAN DIEGO REALTOR APRIL 2015

2015 Officers Chris Anderson - President Cory Shepard - President-Elect Ashley Lunn - Vice President Glenn Bennett - Treasurer Glenn Leslie Kilpatrick - Immediate Past President Linda Lee - Immediate Past President 2015 Directors Rick Alexander Kevin Burke Vicky Campbell Karla Cohn Vickie Fageol Ginni Field Gerri-Lynn Fives Steve Fraioli Michelle Hellerud Robert Kevane Mark Marquez Mary Mitchell Angela Ordway Paulina Rassavong Vernice Ross Ken Tablang Jim Taylor Fiona Theseira Zach Todaro Brian Westre Michael Wolf Nominations Accepted For Upcoming Board Of Directors Election Honorary Directors Robert Lowry Smith Production Staff Stephanie Pac - Managing Editor David Pedersen - Communications Coordinator Mariam Grayson - Marketing Specialist Devyn Pancipanci - Marketing & Sales Coordinator Foley Publications - Design & Art Direction Neil Dulay - Multimedia Content Producer SDAR Staff EXECUTIVE Michael T. Mercurio - Chief Executive Officer Catherine Smiley Jones - Chief Operations Officer ACCOUNTING David Kvendru Chief Financial Officer EDUCATION Kimberly Heinrich Director of Education GOVERNMENT AFFAIRS Sherry Hodges - Director of Government Affairs INFORMATION TECHNOLOGY Dan Poteet - Project Manager MARKETING & COMMUNICATIONS Stephanie Pac - Vice President MEMBERSHIP & BUSINESS DEVELOPMENT Brandon Robbins - Interim Director RISK MANAGEMENT Kate Speir - Vice President of Risk Management The SDAR Nominating/Election Committee is seeking recommendations for the position of 2016 SDAR Director. You may nominate yourself or another person who you feel is qualified. The deadline to nominate eligible members is Monday, May 18. For a nomination form, go to www.sdar. com/election. Timeline of Election June 12 - Board of Directors approves ballot recommendations. July 6 - Deadline to petition to be on the ballot and Candidate Guide. July 22 - Record Date (Voting members must have their current e-mail address on file SDAR prior to this date.) July 24 - Deadline to petition to be on ballot only. Aug. 24-Sep. 3 - Online voting begins. Sep. 3 - Online polls close. Sep. 4 - Committee meets to receive results. Sep. 8 - Election results posted. Sep. 11 - SDAR Annual Meeting. THE SAN DIEGO REALTOR APRIL 2015 5

CEO REPORT Step Forward and Get Involved! MICHAEL T. MERCURIO Spring is finally here and while we don t have much in the way of spring showers, we do have a lot of news to share at the Greater San Diego Association of REALTORS. Members, I could not be more proud of how the association continues to flourish these days! If you re a member and have not come to an event or educational offering, I want to encourage you to step forward and get involved! The best way SDAR can work for you is if you work with us! SDAR Member Kate Gillingham Wins National Award! I am so excited to tell you that our very own Kate Gillingham of Coronado Island Realty has been named to REALTOR Magazine s 30 Under 30 class of 2015! Kate is a shining example of a young go-getter who upholds the highest professional standards. Not only does she have experience with a wide range of commercial and residential real estate transactions, she also has found time to serve on SDAR s Education Committee and Young Professionals Network. Congratulations, Kate! New REALTOR Swearing-in Ceremony Set for April 24 SDAR will hold our first ever, New REALTOR Swearing-in Ceremony at our 2015 San Diego REALTOR Expo & Conference on April 24.The ceremony, which helps newly minted REALTORS celebrate their entry into the world of real estate, is set for 12 p.m., just before the General Session Luncheon. The event will be held at the San Diego Convention Center, 111 West Harbor Drive in Downtown San Diego. Be sure to invite your friends and family to come see you officially sworn in as a new REALTOR in San Diego County! I am thrilled to report that for the first quarter of 2015, we have seen a more than 50 percent increase in new members compared this time last year. Board Candidate Nominations Know someone who would make a great SDAR Board member? The Nominating/ Election Committee is currently accepting nominations for this year s Director positions. Eligible candidates must have been a REALTOR member of the Association for at least two of the last three full calendar years, and must have served at least two of the last three years as a member of a standing committee. Further, all candidates must have completed the quadrennial NAR Ethics requirement. If you know someone who would make a great Director, or even if you want to nominate yourself, fill out the nomination form at www.sdar.com/ election. Nominations are due by 5:00 p.m., Monday, May 18. The election of ten new Directors will take place in late August, early September. We hope to see many new faces this year as we continue to grow and see new members get involved in our association. We look forward to hearing your ideas on how we can continue to support our REALTOR members! Mike Mercurio 6 THE SAN DIEGO REALTOR APRIL 2015

EXPO PANEL ON FRIDAY, APRIL 24 REAL ESTATE HEAVYWEIGHTS LOOK TO FUTURE OF ONLINE LISTINGS Panel Introduction by SAUL KLEIN Former SDAR President www.sdarexpo.com The highlight of the Friday, April 24 REALTOR Expo & Conference at the San Diego Convention Center will be the General Session at 12 noon. The luncheon meeting features panelists from Zillow/Trulia, Move/Realtor.com, and national real estate CEOs who are shaping the future of online listings. Be a part of the lively discussion and get answers about mergers, zestimates, online leads, search traffic, and the accuracy of property listings. This is your opportunity to ask the executives themselves how these changes will impact your listings in San Diego County. Panelists include Curt Beardsley, vice president of industry relations for Zillow/Trulia; Russ Cofano, senior vice president of industry relations for Move/Realtor.com, Bob Hale, CEO of Houston Association of REALTORS ; and Paul Hilgers, CEO of Austin Association of REALTORS. Moderated by Victor Lund, of WAV Group Consulting, the session will be introduced by former SDAR president Saul Klein. Tickets to a full day of the Expo, including the General Session, are $29 for SDAR members ($69 for non-member). However, when you register online with promotional code NEWS2015, you can save $10 off the General Session. Tickets to the Expo without attending the General Session are only $7 for SDAR Members ($10 for non-members). You ll also save on parking at the Convention Center at the Expo website: www. sdarexpo.com. The price of admission includes a full day at the trade show, starting at 9:00 a.m. You ll meet local providers specializing in finance, insurance, home service industries, and more. There will be plenty of souvenirs, vendor gifts, and business cards to collect. See the current list of exhibitors at www.sdarexpo.com. Throughout the day you ll be able to attend the breakout sessions at no additional cost, on topics ranging from your member benefits, REALTOR safety skills, technology gadgets, Bureau of Real Estate violations, and changes to RESPA/TILA. After a jam-packed day you ll look forward to the fun reception and giveaways at 4:30 at the SDAR booth at the center of the trade show. Set aside Friday, April 24, and join your colleagues and real estate professionals from throughout the region at the largest REALTOR Expo & Conference in San Diego County. THE SAN DIEGO REALTOR APRIL 2015 7

INTERNATIONAL CONGRESS Upcoming International Congress Touts San Diego Real Estate When you mention you re a resident of San Diego to someone in the Midwest or Eastern United States, they usually will say something to the effect of, Oh, what a beautiful city. You re so lucky to live there. But in Europe or Asia, you might get a reaction like, So is that near Los Angeles? The Greater San Diego Association of REALTORS (SDAR) is hoping to change the perception of our community among international real estate investors everyone from the large commercial entrepreneurs to the family whose son or daughter has enrolled in one of our fine schools of higher education. Chris Anderson, SDAR 2015 President, recently returned from MIPIM, an international real estate event held in France. With over 21,000 attendees, only about 400 were from the United States. If that demonstrated anything, Anderson says, it is that San Diego as a metropolitan area is uniquely positioned to build relationships with real estate professionals in other countries. A member of SDAR s International Real Estate Committee, Michelle Serafini notes that while Miami, Chicago, and San Francisco might resonate more with international buyers, we re kind of like the best-kept secret. Beyond the weather, the scenery, and lifestyle, as far as West Coast destinations, San Diego s price points make it a competitive place to live, work, play, and retire. We can boast forward-thinking industries, sensible tax rates, world-class colleges, distinctive communities and neighborhoods, a robust downtown, and more. Erik Caldwell, Director of Economic Development for the City of San Diego, describes our community as having innovation clusters and a great place to start and invest in a business, but he notes that San Diego is probably punching below our belt and that we need to brand and market ourselves globally. Real estate professionals and community planners agree that San Diego can improve its prospects of becoming a global destination by extending more direct flights to international cities, investing in improvements to infrastructure, and transitioning from its image as an old Navy town. 2015 International Real Estate Congress Nov. 8-11 SDAR and the Miami Association of REALTORS have joined forces this year to host the International Real Estate Congress and promote these important coastal metropolitan areas as the place to do business. The Miami event takes place Nov. 8 and 9, followed immediately by the San Diego event on Nov. 10 and 11. The Congress will draw foreign investors and delegates to both communities for education, marketing, and networking opportunities, an expo featuring global markets, keynote speakers, and global seminars. This is an exciting opportunity for all real estate professionals to learn from and collaborate with over 300 international investors, developers, and REALTORS. If you want to get in the action, please fill out the 2015 International Real Estate Congress Interest Form at www.sdar.com/international and you ll be contacted once registration goes live. 8 THE SAN DIEGO REALTOR APRIL 2015

30 UNDER 30 30 Under 30 Class of 2015 Includes Coronado SDAR Member KATE GILLINGHAM Applications were strong and competition was fierce, but REALTOR Magazine s 30 Under 30 class of 2015 has been chosen, and it includes SDAR member Kate Gillingham. She is among the young entrepreneurs that uphold the highest of professional standards and present themselves as great ambassadors for the real estate industry. Gillingham s passion for real estate started at a young age when she first started working for Coronado Island Realty. While attending the University of San Diego, she worked fulltime for her family s business. As a licensed real estate broker, Kate works directly with clients to buy, sell, exchange, and manage their real estate portfolio. She has experience with commercial and residential real estate and has represented clients on a variety of transactions ranging from traditional sales, to 1031 exchanges, short sales, trust sales, probate sales, and IRA purchases. She has also consulted on real estate remodels and development. She also has served SDAR on the Education Committee and Young Professionals Network. Gillingham notes: I m one of the youngest agents in a saturated market. My dad has taught me to trust my instincts and also that true knowledge is gained by experiences. He reminds me regularly that since people won t take me seriously until I have gray hair, I have to surpass their expectations by having exceptional service and knowledge of the industry. My dad also taught me that if I surpass my clients expectations, they will not only want to work with me again but will tell their friends about me. The 30 Under 30 honor goes annually to young professionals who stand out from the crowd. Selections are based on a variety of factors, with stories that demonstrate business success, professional leadership, community involvement, compelling content, and geographic and ethnic diversity. Readers will have the opportunity to learn more about all 30 young professionals when they are profiled in the May/ June issue of REALTOR Magazine. BEST-RATE REPAIR COMPANY INC. License #700811 WOOD DAMAGE SPECIALISTS www.best-rate-repair.com 619.229.0116 Termite Repair Patio Covers Front Entry Doors Stairs Exterior Repair Bathrooms Windows Decks Floors 1 st CHOICE FOR REALTORS ESCROW BILLING

SDAR Receives Community Outreach Award from NAR In appreciation of the work it has done to improve the quality of life in San Diego, the Greater San Diego Association of REALTORS has been recognized by the National Association of REALTORS (NAR) with a Community Outreach Award. SDAR utilized Housing Opportunity Grants to conduct multiple events for the public on a variety of housing issues, including: a re-entry workshop for those who had suffered a short sale or foreclosure; a home buyer workshop for activeduty military and veterans; a Home Owners Mobile Education Clinic for those in danger of foreclosure; and home buyer classes targeting diverse community residents. SDAR used Diversity Grants to engage multicultural real estate group members in advocacy and to identify new leaders for the Association. SDAR used Smart Growth Grants to support a forum discussion about smart growth and complete streets; host the lieutenant governor and a panel promoting bike-able communities; a community event explaining why increased density is good for the community; an educational event for policy makers to discuss policies for creating more density; and host the Smart Growth for the 21st Century class, where members and city leaders learned about smart growth and had a productive discussion. SDAR is honored to receive this recognition for the work the association has done throughout the San Diego region, said Chris Anderson, SDAR s 2015 Board President. This is our community. We live here. We work here. We raise our families here. So we take the community s welfare very seriously, and we understand how important home ownership is to so many, not to mention the importance home ownership has on our local economy. SDAR will continue to give back and help San Diegans realize their dream of homeownership. This year, SDAR is focused on numerous issues and events, including serving as co-host of the 2015 International Real Estate Congress in November, which is expected to bring numerous foreign investors and delegates to San Diego from dozens of countries, including France, Russia, South America, and China. Winners of NAR Community Outreach Awards exemplify the value REALTORS bring to their neighborhoods and communities, said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. I am proud to recognize the work SDAR has done to enrich the San Diego region and make it a better place to live and work. This is the first year NAR has honored REALTOR associations with Community Outreach Awards. To be considered for this award, associations must have made use of NAR s REALTOR Party Community Outreach resources over a two-year period to address challenges facing their community, develop partnerships with community stakeholders or involve the public in a project or discussion to better the community. 10 THE SAN DIEGO REALTOR APRIL 2015

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MODULAR, MANUFACTURED HOMES Get the Scoop on Modular, Manufactured and/or Mobile Homes By Helena Lopez Modular, Manufactured, Mobile. It s easy to confuse the three, or is it two? Typically a manufactured home and a mobile home are the same except that a true mobile home was built before July, 1, 1976 when the HUD (Housing and Urban Development) came into effect. If you have a mobile home constructed before that date, you pay the Department of Motor Vehicles each year for your tags, much like a vehicle. After July 1, 1976, the term manufactured home was more widely used. A manufactured home was built to be mobile, even if they don t leave their original destination. Manufactured homes are built to stand alone on their own foundation or can be secured to the ground with a permanent foundation. They have a permanent chassis that stays with the structure. They are not built to local municipal codes, but are built to HUD standards and codes which are acceptable to any local jurisdiction. The HUD code pre-empts local building codes and uses federal construction codes. HUD regulates the home s design, construction, strength, durability, transportability, fire resistance, energy efficiency and quality control. A single-wide is not merely a term, but a dimension. It is used to describe a home that is 12 to 18 feet wide and from 30 to 80 ft. long. These homes run in size from 360 to 1,440 square feet. Double-wides are 24 to 28 feet wide and from 40 to 80 feet long. They range from 960 to 2,240 square feet. Manufactured homes are usually single story and delivered to the site in one to three sections. Flooring, cabinets, fixtures, appliances and plumbing have been installed at the factory. You can place a manufactured home on private property or in a mobile home community. The term park model is used on mobile homes under 400 square feet and are usually 1-bedroom, 1-bathroom, and sometimes include a loft. For many buyers, manufactured (mobile) homes and modular homes can be a viable alternative to a stick built home if you have budget or timing restrictions or considerations; if you own an existing plot of land or have the flexibility of buying land and then creating your own living space; or you want increased control over the final product. A modular home is also built in a factory. The components are designed, engineered, and assembled in a controlled CONTINUED ON 28 12 THE SAN DIEGO REALTOR APRIL 2015

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MARCH STATISTICS DETACHED HOMES Zip Code Market Area SOLD LISTINGS Current Year - 2015 Previous Year - 2014 AVG DAYS ON MARKET MEDIAN PRICE* SOLD LISTINGS AVG DAYS ON MARKET MEDIAN PRICE* Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD 91901 Alpine 9 32 94 67 $500,000 $518,000 14 39 76 62 $541,644 $543,388 91902 Bonita 12 36 64 56 $622,500 $596,500 17 36 46 63 $561,506 $555,753 91905 Boulevard 1 1 126 126 $255,000 $255,000 2 4 329 224 $161,250 $130,400 91906 Campo 0 5 0 54 $0 $223,000 5 9 39 62 $210,000 $195,000 91910 Chula Vista 37 90 27 40 $445,000 $433,250 32 77 59 43 $448,000 $420,000 91911 Chula Vista 28 85 43 41 $377,500 $380,000 30 95 55 51 $380,000 $375,000 91913 Chula Vista 31 72 33 48 $500,000 $482,000 35 85 67 64 $500,000 $470,000 91914 Chula Vista 6 34 27 42 $742,000 $598,000 14 32 54 56 $687,550 $612,500 91915 Chula Vista 23 61 38 50 $490,000 $485,000 22 59 67 57 $429,000 $450,000 91916 Descanso 1 3 24 131 $595,000 $235,000 0 0 0 0 $0 $0 91917 Dulzura 0 2 0 163 $0 $412,500 0 1 0 14 $0 $399,000 91931 Guatay 0 0 0 0 $0 $0 0 0 0 0 $0 $0 91932 Imperial Beach 9 23 39 36 $450,000 $450,000 8 18 17 29 $428,500 $404,000 91934 Jacumba 0 2 0 55 $0 $142,500 4 5 90 95 $94,500 $90,000 91935 Jamul 10 23 53 53 $607,389 $600,000 7 16 33 65 $565,000 $505,000 91941 La Mesa 42 79 39 41 $491,000 $517,500 36 84 59 53 $510,000 $514,000 91942 La Mesa 36 79 43 44 $438,300 $430,000 20 46 41 40 $418,400 $398,000 91945 Lemon Grove 22 63 35 32 $357,500 $371,000 18 44 56 45 $315,000 $325,000 91948 Mount Laguna 1 1 232 232 $80,000 $80,000 0 0 0 0 $0 $0 91950 National City 20 47 32 41 $299,450 $322,000 18 41 74 60 $287,500 $300,000 91962 Pine Valley 2 5 12 10 $230,000 $325,000 4 13 115 88 $352,615 $304,700 91963 Potrero 0 1 0 202 $0 $245,000 0 0 0 0 $0 $0 91977 Spring Valley 35 105 47 46 $392,000 $369,900 39 109 31 38 $362,500 $345,000 91978 Spring Valley 5 17 37 57 $494,000 $469,000 2 9 45 43 $371,000 $378,300 91980 Tecate 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92003 Bonsall 10 20 65 92 $619,400 $764,000 4 9 16 25 $835,500 $765,000 92004 Borrego Springs 6 15 115 131 $216,000 $222,000 10 23 147 109 $154,000 $155,000 92007 Cardiff By The Sea 9 18 50 69 $1,750,000 $1,249,500 2 15 102 73 $2,010,000 $1,270,000 92008 Carlsbad 13 29 55 50 $745,000 $770,000 16 46 26 42 $610,000 $700,000 92009 Carlsbad 37 97 30 47 $825,000 $870,000 36 96 23 37 $805,250 $810,000 92010 Carlsbad 15 27 48 55 $662,000 $660,000 10 32 44 51 $649,500 $614,950 92011 Carlsbad 21 47 34 37 $907,000 $860,000 19 43 37 44 $829,000 $800,000 92014 Del Mar 11 31 52 70 $1,465,000 $1,465,000 21 52 41 73 $1,725,000 $1,750,000 92019 El Cajon 29 67 41 63 $490,000 $500,000 25 81 68 54 $450,000 $440,000 92020 El Cajon 28 77 45 51 $429,500 $469,000 34 77 44 50 $412,250 $389,550 92021 El Cajon 27 64 34 54 $411,100 $405,000 20 62 44 49 $382,500 $382,500 92024 Encinitas 54 104 36 40 $1,020,000 $984,500 25 72 31 45 $955,000 $947,500 92025 Escondido 26 66 64 59 $483,500 $450,000 23 56 39 48 $525,000 $515,000 92026 Escondido 36 95 29 43 $426,000 $436,000 40 86 51 57 $440,500 $411,750 92027 Escondido 32 101 45 49 $385,500 $385,000 42 95 53 52 $344,500 $360,000 92028 Fallbrook 49 111 54 59 $455,000 $480,000 49 138 63 61 $455,000 $455,000 92029 Escondido 14 35 50 71 $611,000 $597,500 19 31 45 47 $646,550 $635,000 92036 Julian 5 13 80 111 $280,000 $267,500 6 10 87 76 $317,500 $246,250 92037 La Jolla 34 87 41 70 $1,675,000 $1,925,000 25 68 62 66 $1,695,000 $1,690,000 92040 Lakeside 27 60 26 37 $432,000 $437,500 25 57 41 45 $424,000 $415,000 92054 Oceanside 24 48 42 42 $567,000 $565,000 24 55 33 47 $523,000 $515,000 92056 Oceanside 37 98 47 45 $505,000 $475,000 35 79 24 31 $445,000 $432,000 92057 Oceanside 45 116 48 54 $420,000 $441,000 42 97 26 30 $444,500 $430,000 92058 Oceanside 9 21 29 63 $394,000 $420,000 11 24 36 26 $405,000 $389,750 92059 Pala 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92060 Palomar Mountain 3 8 72 107 $75,000 $162,500 0 1 0 165 $0 $175,000 92061 Pauma Valley 3 5 204 211 $510,000 $530,000 0 2 0 121 $0 $500,000 14 THE SAN DIEGO REALTOR APRIL 2015

Copyright 2015 Greater San Diego Association of REALTORS. Data for single-family attached and detached home sales through the Multiple Listing Service of Sandicor, Inc. Neither SDAR nor Sandicor guarantees or is responsible for its accuracy. *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. Zip Code Market Area SOLD LISTINGS Current Year - 2015 Previous Year - 2014 AVG DAYS ON MARKET MEDIAN PRICE* SOLD LISTINGS AVG DAYS ON MARKET MEDIAN PRICE* Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD 92064 Poway 32 85 37 40 $644,500 $610,000 37 91 54 44 $635,000 $560,000 92065 Ramona 45 107 65 70 $420,000 $410,000 46 107 45 69 $391,000 $413,000 92066 Ranchita 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92067 Rancho Santa Fe 17 47 104 109 $2,737,500 $2,812,500 20 38 105 118 $2,825,002 $2,750,000 92068 San Luis Rey 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92069 San Marcos 14 54 56 47 $537,500 $500,000 25 60 44 51 $515,000 $492,500 92070 Santa Ysabel 2 3 204 176 $782,450 $1,065,000 0 1 0 36 $0 $335,999 92071 Santee 46 96 41 39 $420,000 $420,000 29 91 30 45 $400,000 $400,500 92075 Solana Beach 15 30 39 40 $1,290,000 $1,540,750 7 19 88 59 $1,550,000 $1,101,000 92078 San Marcos 37 94 50 40 $607,000 $612,500 39 97 45 41 $655,000 $638,000 92081 Vista 21 59 29 49 $455,000 $449,000 18 42 67 57 $432,500 $442,500 92082 Valley Center 20 46 70 64 $539,050 $489,350 16 43 75 78 $452,000 $439,000 92083 Vista 15 48 72 56 $330,000 $399,750 23 50 62 52 $332,000 $343,500 92084 Vista 24 78 44 44 $407,500 $410,500 27 69 65 71 $409,000 $420,000 92086 Warner Springs 1 3 259 112 $399,900 $399,900 2 3 196 179 $365,750 $335,000 92091 Rancho Santa Fe 6 10 118 135 $1,990,000 $1,950,000 2 8 94 72 $2,220,000 $1,342,500 92096 San Marcos 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92101 San Diego Downtown 1 3 118 40 $710,000 $815,000 2 5 135 74 $895,000 $915,000 92102 San Diego 13 35 50 42 $410,000 $330,000 14 28 39 35 $304,000 $338,350 92103 Mission Hills 20 36 23 41 $770,000 $800,000 15 32 25 34 $860,000 $863,000 92104 North Park 23 55 19 36 $541,000 $583,000 22 54 29 30 $507,000 $558,500 92105 East San Diego 15 40 31 34 $324,500 $324,750 19 46 24 36 $280,000 $280,000 92106 Point Loma 18 45 68 48 $773,000 $950,000 15 40 36 35 $855,000 $847,500 92107 Ocean Beach 15 39 34 55 $910,500 $850,000 15 42 34 56 $825,000 $797,000 92108 Mission Valley 2 3 14 71 $713,000 $750,000 1 4 11 49 $500,000 $534,500 92109 Pacific Beach 18 48 26 40 $936,250 $923,750 25 53 66 56 $750,000 $868,000 92110 Old Town SD 9 25 59 57 $630,000 $651,000 5 12 23 54 $769,000 $672,500 92111 Linda Vista 17 42 18 29 $515,000 $490,000 15 50 18 25 $476,000 $472,500 92113 Logan Heights 12 32 60 50 $297,500 $274,250 14 37 63 60 $230,050 $260,000 92114 Encanto 47 114 31 43 $350,000 $340,000 40 123 48 49 $329,500 $310,000 92115 College Grove 37 80 72 55 $440,000 $444,750 40 93 41 41 $447,500 $438,000 92116 Normal Heights 24 54 29 37 $604,500 $588,750 20 52 19 41 $676,250 $514,750 92117 Clairemont Mesa 32 79 19 30 $567,550 $530,000 32 77 36 33 $484,250 $480,000 92118 Coronado 12 32 50 70 $1,865,000 $1,814,000 19 38 93 87 $1,535,000 $1,524,000 92119 San Carlos 18 48 26 34 $485,500 $515,000 19 50 31 40 $500,000 $483,700 92120 Del Cerro 22 47 30 30 $612,000 $550,000 24 62 40 38 $505,000 $512,500 92121 Sorrento 2 8 102 62 $792,500 $792,500 1 5 88 31 $835,000 $825,000 92122 University City 16 37 51 55 $789,000 $789,000 13 32 39 32 $725,000 $720,000 92123 Serra Mesa 22 56 38 40 $492,250 $483,000 12 30 45 57 $448,350 $453,350 92124 Tierrasanta 12 33 35 37 $512,500 $570,000 7 23 43 41 $545,000 $531,000 92126 Mira Mesa 17 79 26 30 $495,000 $487,500 39 91 38 32 $459,000 $459,000 92127 Rancho Bernardo 47 111 60 63 $854,900 $900,000 35 84 50 49 $815,000 $849,500 92128 Rancho Bernardo 43 105 32 37 $599,000 $605,000 49 103 39 36 $585,000 $600,000 92129 Rancho Penasquitos 38 82 48 52 $675,000 $671,750 29 72 26 31 $675,000 $636,000 92130 Carmel Valley 42 80 39 47 $1,227,500 $1,158,750 36 92 23 34 $1,055,000 $1,036,250 92131 Scripps Miramar 20 47 44 42 $710,950 $785,000 23 56 35 38 $779,000 $782,500 92134 San Diego Downtown 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92139 Paradise Hills 12 29 47 56 $372,500 $370,000 13 36 23 45 $375,000 $341,000 92145 Miramar 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92154 Otay Mesa 32 78 25 45 $358,500 $375,000 31 78 47 47 $355,000 $355,000 92173 San Ysidro 3 10 30 39 $360,000 $350,000 3 9 11 36 $330,000 $335,500 GROUP TOTAL COUNTS: 1890 4698 1828 4557 THE SAN DIEGO REALTOR APRIL 2015 15

MARCH STATISTICS ATTACHED HOMES Zip Code Market Area SOLD LISTINGS Current Year - 2015 Previous Year - 2014 AVG DAYS ON MARKET MEDIAN PRICE* SOLD LISTINGS AVG DAYS ON MARKET MEDIAN PRICE* Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD 91901 Alpine 2 7 15 40 $178,000 $215,000 2 5 29 17 $202,500 $200,000 91902 Bonita 4 6 21 17 $188,000 $212,000 4 10 15 57 $301,450 $287,450 91905 Boulevard 0 0 0 0 $0 $0 0 0 0 0 $0 $0 91906 Campo 0 0 0 0 $0 $0 0 0 0 0 $0 $0 91910 Chula Vista 17 31 51 51 $320,000 $312,500 9 38 52 45 $244,000 $241,500 91911 Chula Vista 5 21 35 50 $252,500 $245,000 6 30 63 68 $272,000 $231,250 91913 Chula Vista 18 53 28 47 $330,499 $325,000 23 55 40 43 $280,000 $282,500 91914 Chula Vista 8 15 24 53 $323,000 $314,000 5 17 61 80 $277,200 $285,000 91915 Chula Vista 17 43 37 38 $330,000 $330,000 17 47 31 52 $339,160 $310,000 91916 Descanso 0 0 0 0 $0 $0 0 0 0 0 $0 $0 91917 Dulzura 0 0 0 0 $0 $0 0 0 0 0 $0 $0 91931 Guatay 0 0 0 0 $0 $0 0 0 0 0 $0 $0 91932 Imperial Beach 7 18 16 56 $450,000 $372,500 2 8 19 71 $486,000 $317,000 91934 Jacumba 0 0 0 0 $0 $0 0 0 0 0 $0 $0 91935 Jamul 0 0 0 0 $0 $0 0 0 0 0 $0 $0 91941 La Mesa 2 6 34.5 65 $227,500 $202,000 1 5 317 80 $224,000 $249,000 91942 La Mesa 13 31 54 37 $290,000 $265,000 16 35 31 32 $248,000 $239,900 91945 Lemon Grove 0 5 0 32 $0 $215,000 1 3 11 142 $139,000 $180,000 91948 Mount Laguna 0 0 0 0 $0 $0 0 0 0 0 $0 $0 91950 National City 1 10 19 25 $270,000 $227,500 3 10 102 96 $285,000 $143,750 91962 Pine Valley 0 0 0 0 $0 $0 0 0 0 0 $0 $0 91963 Potrero 0 0 0 0 $0 $0 0 0 0 0 $0 $0 91977 Spring Valley 6 14 69 49 $215,500 $220,000 8 15 17 58 $199,500 $185,000 91978 Spring Valley 1 5 13 15 $200,000 $220,000 3 8 39 79 $213,000 $207,500 91980 Tecate 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92003 Bonsall 5 5 39.6 40 $215,000 $215,000 0 2 0 74 $0 $273,750 92004 Borrego Springs 2 8 140 76 $111,700 $63,501 5 9 179 148 $119,000 $100,000 92007 Cardiff By The Sea 4 10 16 34 $1,238,750 $575,500 4 12 7 17 $542,500 $565,000 92008 Carlsbad 13 22 40 43 $575,000 $475,000 5 19 21 38 $500,000 $560,000 92009 Carlsbad 24 63 55 49 $414,500 $410,000 24 64 47 52 $369,440 $372,250 92010 Carlsbad 17 25 20 27 $419,000 $430,000 4 15 24 41 $332,500 $385,000 92011 Carlsbad 13 30 33 46 $533,500 $545,000 11 24 28 38 $439,500 $465,000 92014 Del Mar 4 15 19 48 $767,500 $790,000 5 15 27 76 $785,000 $660,000 92019 El Cajon 14 27 47 45 $249,500 $250,000 17 45 48 54 $225,000 $235,000 92020 El Cajon 10 21 13 38 $222,000 $173,500 13 30 93 72 $169,000 $168,000 92021 El Cajon 11 18 93 77 $196,000 $195,500 8 24 80 75 $188,500 $181,000 92024 Encinitas 22 43 37 39 $487,000 $458,000 11 35 37 43 $563,000 $498,000 92025 Escondido 3 12 50 77 $185,000 $187,000 5 12 74 60 $179,900 $182,450 92026 Escondido 7 27 21 41 $245,000 $240,000 12 37 90 68 $242,000 $212,000 92027 Escondido 5 18 35 52 $218,000 $225,500 7 12 113 77 $147,000 $149,950 92028 Fallbrook 2 8 12 104 $154,500 $263,500 2 9 28 40 $254,500 $250,000 92029 Escondido 0 0 0 0 $0 $0 2 5 65 49 $270,250 $261,000 92036 Julian 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92037 La Jolla 31 76 54 74 $477,500 $580,000 33 77 49 63 $613,000 $535,000 92040 Lakeside 4 11 30 33 $122,500 $128,000 5 17 22 29 $157,000 $158,000 92054 Oceanside 12 38 73 57 $387,500 $422,000 9 24 61 75 $370,000 $360,000 92056 Oceanside 20 50 32 39 $268,000 $284,500 14 53 54 41 $281,500 $282,500 92057 Oceanside 22 58 67 50 $242,500 $240,000 26 62 57 54 $221,000 $218,500 92058 Oceanside 5 19 20 43 $251,000 $239,999 7 18 40 33 $236,000 $236,500 92059 Pala 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92060 Palomar Mountain 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92061 Pauma Valley 1 1 274 274 $345,000 $345,000 1 2 2 28 $295,000 $300,000 16 THE SAN DIEGO REALTOR APRIL 2015

Copyright 2015 Greater San Diego Association of REALTORS. Data for single-family attached and detached home sales through the Multiple Listing Service of Sandicor, Inc. Neither SDAR nor Sandicor guarantees or is responsible for its accuracy. *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. Zip Code Market Area SOLD LISTINGS Current Year - 2015 Previous Year - 2014 AVG DAYS ON MARKET MEDIAN PRICE* SOLD LISTINGS AVG DAYS ON MARKET MEDIAN PRICE* Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD 92064 Poway 5 10 21 39 $350,000 $379,450 9 20 53 55 $385,000 $332,500 92065 Ramona 4 8 14 37 $228,500 $227,450 3 9 43 62 $126,000 $185,000 92066 Ranchita 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92067 Rancho Santa Fe 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92068 San Luis Rey 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92069 San Marcos 6 15 39 51 $296,500 $255,000 4 16 33 49 $233,125 $234,000 92070 Santa Ysabel 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92071 Santee 31 60 39 52 $265,000 $255,000 18 55 20 37 $262,500 $265,000 92075 Solana Beach 6 17 57 38 $752,500 $790,000 14 26 30 45 $862,500 $847,500 92078 San Marcos 32 69 34 47 $390,250 $379,000 25 52 35 44 $340,000 $341,000 92081 Vista 7 18 21 29 $240,000 $239,500 3 14 15 47 $340,000 $230,000 92082 Valley Center 0 0 0 0 $0 $0 1 1 94 94 $150,000 $150,000 92083 Vista 7 14 16 58 $275,000 $267,000 6 12 77 60 $261,250 $212,551 92084 Vista 6 11 27 40 $217,500 $255,000 1 7 16 66 $180,000 $242,000 92086 Warner Springs 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92091 Rancho Santa Fe 0 1 0 102 $0 $710,000 3 7 52 48 $725,000 $725,000 92096 San Marcos 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92101 San Diego Downtown 78 184 48 44 $503,000 $513,750 64 189 42 49 $506,500 $430,000 92102 San Diego 1 5 7 79 $285,000 $265,550 6 16 33 46 $178,500 $218,063 92103 Mission Hills 32 67 56 47 $500,000 $450,000 19 49 23 53 $455,000 $455,000 92104 North Park 10 26 75 49 $297,000 $308,500 13 34 50 44 $278,000 $264,500 92105 East San Diego 9 17 68 55 $182,000 $182,000 4 27 15 55 $139,500 $132,000 92106 Point Loma 0 10 0 24 $0 $630,956 2 7 48 40 $457,000 $600,000 92107 Ocean Beach 4 13 67 50 $455,000 $420,000 8 16 28 42 $397,500 $374,500 92108 Mission Valley 28 75 50 57 $349,750 $302,500 16 66 49 46 $330,000 $296,500 92109 Pacific Beach 19 62 35 56 $550,000 $557,500 26 69 70 51 $531,000 $514,000 92110 Old Town SD 19 45 48 49 $349,000 $335,000 24 52 56 46 $305,500 $312,500 92111 Linda Vista 20 49 50 52 $337,000 $333,000 17 42 32 35 $298,500 $350,000 92113 Logan Heights 2 5 48 57 $200,000 $135,000 1 5 166 72 $135,000 $165,000 92114 Encanto 0 1 0 12 $0 $295,000 0 1 0 142 $0 $115,000 92115 College Grove 8 27 27 34 $231,000 $220,000 12 35 19 45 $190,000 $180,000 92116 Normal Heights 10 24 17 21 $282,500 $292,500 16 38 46 51 $218,250 $267,000 92117 Clairemont Mesa 6 20 29 37 $263,000 $299,000 13 28 36 44 $325,000 $317,500 92118 Coronado 10 24 63 66 $1,005,000 $1,085,000 7 26 140 114 $955,000 $995,000 92119 San Carlos 10 19 30 45 $281,050 $282,100 15 27 26 25 $220,000 $220,000 92120 Del Cerro 12 28 30 46 $292,500 $292,500 15 36 30 45 $255,000 $207,500 92121 Sorrento 2 10 8 53 $405,750 $395,000 1 4 28 25 $512,000 $460,500 92122 University City 24 63 30 45 $347,500 $375,000 23 67 46 51 $409,900 $368,000 92123 Serra Mesa 8 23 28 60 $396,375 $385,000 4 22 30 59 $287,500 $268,750 92124 Tierrasanta 5 22 78 75 $401,000 $383,500 4 17 35 89 $363,500 $332,000 92126 Mira Mesa 15 48 49 46 $282,100 $277,000 16 63 34 43 $273,000 $265,000 92127 Rancho Bernardo 21 41 33 35 $387,000 $387,000 15 42 34 38 $311,100 $310,550 92128 Rancho Bernardo 34 84 32 40 $306,500 $325,000 40 88 47 57 $300,000 $310,000 92129 Rancho Penasquitos 13 34 38 35 $327,000 $315,000 15 36 49 41 $320,000 $300,000 92130 Carmel Valley 20 52 28 34 $595,000 $478,500 24 64 28 32 $444,500 $430,500 92131 Scripps Miramar 15 32 24 42 $400,000 $382,500 11 39 42 53 $330,000 $346,000 92134 San Diego Downtown 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92139 Paradise Hills 5 28 35 41 $204,000 $280,000 7 26 53 56 $240,000 $225,000 92145 Miramar 0 0 0 0 $0 $0 0 0 0 0 $0 $0 92154 Otay Mesa 8 15 28 63 $257,500 $255,000 10 25 40 36 $245,000 $249,000 92173 San Ysidro 2 11 79.5 108 $141,950 $174,900 3 10 70 122 $92,000 $169,500 GROUP TOTAL COUNTS: 906 2257 868 2393 THE SAN DIEGO REALTOR APRIL 2015 17

MARCH 2015 COUNTYWIDE STATISTICS 60 Average Days on Market (Detached and Attached) 600000 Median Sales Price (Detached and Attached) 45 450000 30 300000 Detached Attached 15 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Detached Attached 150000 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Sales Volume (Detached and Attached) Sold Listings By Property Type (Detached and Attached) 1500000000 Detached Attached 3000 Detached Attached 2250 1125000000 1500 750000000 375000000 750 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Comparative Sales - Existing Homes - March 2015 San Diego County Sales DETACHED % Change from Prior Year % Change from Prior Month Sales ATTACHED % Change from Prior Year 1 Total Sales Volume - Mar. 2015 $1,314,361,350 10.092% 32.450% $370,896,342 14.461% 18.970% 2 Average Sales Price - Mar. 2015 $690,134 5.669% 4.041% $409,378 9.660% 2.536% 3 Median* Sales Price - Mar. 2015 $519,540 6.029% 3.908% $348,825 15.409% 4.127% 4 Sold Listings - Mar. 2015 1,890 3.392% 26.337% 906 4.378% 24.280% 5 Average Days on Market - Mar. 2015 44-6.867% -16.609% 42-8.950% -19.984% 6 Total Sales Volume - Mar. 2014 $1,193,878,682 $324,037,339 7 Average Sales Price - Mar. 2014 $653,107 $373,315 8 Median* Sales Price - Mar. 2014 $490,000 $302,250 9 Sold Listings - Mar. 2014 1,828 868 10 Average Days on Market - Mar. 2014 47 46 11 YTD Total Sales Volume - Mar. 2015 $3,180,578,085 10.486% $929,297,235 6.623% 12 YTD Average Sales Price - Mar. 2015 $674,870 6.786% $402,570 10.530% 13 YTD Median* Sales Price - Mar. 2015 $505,000 5.208% $338,000 12.667% 14 YTD Sold Listings - Mar. 2015 4,698 3.117% 2,257-5.683% 15 YTD Average Days on Market - Mar. 2015 49 0.731% 47-7.136% 16 YTD Total Sales Volume - Mar. 2014 $2,878,708,549 $871,569,201 17 YTD Average Sales Price - Mar. 2014 $631,981 $364,216 18 YTD Median* Sales Price - Mar. 2014 $480,000 $300,000 19 YTD Sold Listings - Mar. 2014 4,556 2,393 20 YTD Average Days on Market - Feb. 2014 50 54 % Change from Prior Month Copyright 2015 Greater San Diego Association of Realtors. Data for single-family attached and detached home sales through the Multiple Listing Service of Sandicor, Inc. Neither SDAR nor Sandicor guarantees or is responsible for its accuracy. *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. 18 THE SAN DIEGO REALTOR APRIL 2015

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