While the most expensive residential property sold in San Diego County last month went for a cool $6.5 million in Point Loma, sales figures overall have continued to drop. The number of homes on the market is also fairly low, spurring the San Diego Association of Realtors (SDAR) to lobby elected representatives to keep mortgage interest deductions intact.

According to Times of San Diego, SDAR President Bob Kevane said, “Decisions about the mortgage interest deduction could have a drastic effect on the incentives to be a homeowner versus a renter.” He also said that “Realtors and home builders are watching with vested interest the negotiations for tax code reform in Washington.”

In October, 1,900 single-family homes sold at a median price of $611,250, $33,250 more than October 2016. However, the number of sales were down two percent from September and seven percent from last October. 

Meanwhile, 978 townhomes and condos changed ownership in October with a median price of $407,000. According to SDAR, the number of sales for those types of residences were down three percent from September and eight percent year-over-year.