Coronado Real Estate, San Diego Real Estate

Home sales in San Diego County jumped 14.7 percent in September from the same time last year, which analysts largely attribute to a drop in mortgage rates.

There were 3,393 sales in September, said CoreLogic data provided by DQNews, up from 2,959 in September 2018.

At the same time, home prices dipped slightly. The median home price was $570,000 in September, down from $575,000 at the same time last year. It marks the second consecutive month of declining prices.

Part of that was because of savvy buyers who knew about lower mortgage rates. She said many of her clients are first-time homebuyers who might not be as aware of the market. But have parents who closely watch rates and are encouraging them to buy.

“Interest rates have been so low that people are really taking advantage of that,” she said.

The average interest rate for a 30-year, fixed-rate mortgage in September was 3.61 percent, said Freddie Mac, down from 4.63 percent at the same time last year.

One thing that could affect the market in coming months is a declining number of homes for sale. There were 6,491 home listings in September, said the Greater San Diego Association of Realtors, down from 7,824 at the same time last year.