Even as home sales activity slows due mostly to a lack of inventory, home prices continue to rise in San Diego County.

Closed Sales decreased in July 15.8 percent for Detached homes and 15.9 percent for Attached homes. Pending Sales increased 5.1 percent for Detached homes and 4.9 percent for Attached homes. Inventory decreased 11.9 percent for Detached homes and 23.3 percent for Attached homes.

The Median Sales Price was up 2.9 percent to $565,000 for Detached homes and 12.2 percent to $381,000 for Attached homes.

San Diego homes are selling faster now than they have in the past several years.

Days on Market decreased 11.4 percent for Detached homes and 32.4 percent for Attached homes. Supply decreased 12.9 percent for Detached homes and 28.0 percent for Attached homes.

Chief economist of Realtor.com Jonathan Smoke’s analysis identified the top 20 hottest medium-to-large U.S. markets, where homes are selling fast and buyers are jostling to find a place and get their bids in. San Diego dropped two spots in July but still in top 10.

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Entry-level homes remain in a seller’s market, while some luxury markets might be showing signs of shifting. $1,250,001 and Above Inventory is up 9.5 percent. The median price of 3,001 Sq Ft and Above is up only 0.5 percent.

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