Is San Diego, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, San Diego has remained a Seller's Market.
Key Takeaway
San Diego is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in San Diego, CA
How much do homes in San Diego, CA cost?
Median Sold Price
$905,281
$674/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in San Diego have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in San Diego was $905,281 in March 2024, up 6.1% from last year, and the median price per square foot was $674.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $485K | $485K | 0.0% |
| 2 Bedrooms | $708.1K | $736.6K | +4.0% |
| 3 Bedrooms | $942.9K | $999.7K | +6.0% |
| 4 Bedrooms | $1.2M | $1.2M | +4.9% |
| 5+ Bedrooms | $1.8M | $1.8M | +3.5% |
Summary: San Diego housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 3.5%.
Median Sold Price Compared To Nearby Cities
| San Diego | $853.5K | $905.2K | +6.1% |
| La Mesa | $779.5K | $825.8K | +5.9% |
| Lemon Grove | $671K | $705K | +5.1% |
| Santee | $717.5K | $749.8K | +4.5% |
| La Jolla | $2.0M | $2.0M | -0.5% |
Housing Supply in San Diego, CA
How many homes are available in San Diego, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2,199 | 2,383 | +8.4% |
Summary: The San Diego real estate market had 2,383 homes for sale in March 2024, a 8.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 265 | 290 | +9.4% |
| 2 Bedrooms | 648 | 689 | +6.3% |
| 3 Bedrooms | 671 | 714 | +6.4% |
| 4 Bedrooms | 401 | 455 | +13.5% |
| 5+ Bedrooms | 214 | 235 | +9.8% |
Summary: The San Diego housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.4%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes increased by 9.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 671 | 716 | +6.7% |
Asking Price vs. Sold Price
238 Homes Were Sold
Under Asking
120 Homes Were Sold
At Asking
358 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in San Diego, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 716 homes were sold or pending in San Diego in March 2024, up by 6.7% month-over-month. Of the 716 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for San Diego, CA
How long does it take to sell a home in San Diego, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 27 Days | 19 Days | -30.3% |
Summary: Homes in San Diego had an average of 19 days on market in Mar 2024, down by 30.3% compared to last year.
Breakdown of Home Sale Times
586 Homes Were Sold
Under 30 Days
102 Homes Were Sold
In 30 - 90 Days
28 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in San Diego are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 716 homes were sold in San Diego; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 4% 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.