Median Home Price Hits Half-a Million

That’s a whole lotta money. Read it and weep in the Union-Tribune…

Fueled by fears of rising interest rates, a growing job market and a persistent lack of supply, the overall median price of San Diego County homes rose 21 percent from May 2003 to a new record last month of $454,000, according to figures released yesterday by DataQuick Information Systems.

But the $500,000 median for existing houses showed most clearly the rocketing nature of the local market. Just 10 months ago, the existing-house median price was $403,000.

via sandiego.about.com