San Diego County median home price now $490,000

San Diego County median home price hit its highest of the year in May, real estate tracker CoreLogic reported.

The median home price was $490,000 in May, a 6.8 percent increase from the same time last year, and was inching toward record price points.

The county has yet to reach its pre-recession peak of $517,500 from November 2005, although several ZIP codes have met or surpassed it.

May’s numbers showed an increase in sales from previous months, up to 4,033 homes.

In May, the median home price for a resale home was $543,000, $375,000 for a resale condo, and $584,000 for newly-built homes.

Home sales increased across Southern California, up 3.3 percent year-over-year.

Absentee buyers, mostly investors and vacation-home buyers, bought 20.6 percent of all homes. Cash buyers accounted for 19.3 percent of sales.