Is Southern San Diego, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Southern San Diego has remained a Seller's Market.
Key Takeaway
Southern San Diego is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southern San Diego, CA
How much do homes in Southern San Diego, CA cost?
Median Sold Price
$740,000
$493/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Southern San Diego have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in Southern San Diego was $740,000 in May 2024, up 9.6% from last year, and the median price per square foot was $493.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $350K | $395K | +12.9% |
| 2 Bedrooms | $550K | $561K | +2.0% |
| 3 Bedrooms | $670K | $730K | +9.0% |
| 4 Bedrooms | $715K | $775K | +8.4% |
| 5+ Bedrooms | $822.5K | $944.5K | +14.8% |
Summary: Southern San Diego housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.9%, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 14.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Otay Mesa West | $653.5K | $742.5K | +13.6% |
| Southern San Diego | $675K | $740K | +9.6% |
Housing Supply in Southern San Diego, CA
How many homes are available in Southern San Diego, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 204 | 217 | +6.4% |
Summary: The Southern San Diego real estate market had 217 homes for sale in May 2024, a 6.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 39 | 41 | +5.1% |
| 3 Bedrooms | 73 | 88 | +20.5% |
| 4 Bedrooms | 62 | 60 | -3.2% |
| 5+ Bedrooms | 23 | 21 | -8.7% |
Summary: The Southern San Diego housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 20.5%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes decreased by 8.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 58 | 46 | -20.7% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southern San Diego, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 46 homes were sold or pending in Southern San Diego in May 2024, down by 20.7% month-over-month. Of the 46 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Southern San Diego, CA
How long does it take to sell a home in Southern San Diego, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 29 Days | +124.2% |
Summary: Homes in Southern San Diego had an average of 29 days on market in May 2024, up by 124.2% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southern San Diego are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 46 homes were sold in Southern San Diego; 67% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.