Is San Diego, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing San Diego is a seller's market

Buyer's
Market

Difference Since February 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

$901,186

$669/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$42,353(+4.9%)

Key Takeaway

Homes in San Diego have sold for 4.9% more than they did a year ago.

Summary: The median home sold price in San Diego was $901,186 in February 2024, up 4.9% from last year, and the median price per square foot was $669.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $489.7K$485K
-1.0%
2 $710.8K$733.3K
+3.2%
3 $949.9K$988.1K
+4.0%
4 $1.2M$1.2M
+2.8%
5+ $1.8M$1.8M
+2.7%

Summary: San Diego housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 2.7%.

Median Sold Price Compared To Nearby Cities

La Mesa
+5.7%
San Diego
+4.9%
Lemon Grove
+2.3%
Santee
+1.9%
La Jolla
-2.3%

Housing Supply in San Diego, CA

How many homes are available in San Diego, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1,9812,131+7.6%

Summary: The San Diego real estate market had 2,131 homes for sale in February 2024, a 7.6% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 234266
+13.7%
2 599639
+6.7%
3 581628
+8.1%
4 364386
+6.0%
5+ 203212
+4.4%

Summary: The San Diego housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.7%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 4.4%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
558603+8.1%

Asking Price vs. Sold Price

209 Homes Were Sold
Under Asking

113 Homes Were Sold
At Asking

281 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in San Diego, you could pay more than the asking price. 46.6% of homes here sold above asking price last month.

Summary: A total of 603 homes were sold or pending in San Diego in February 2024, up by 8.1% month-over-month. Of the 603 sold homes, 35% were sold under asking, 19% were sold at asking, and 47% 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

Feb 2023Feb 2024CHANGE
32 Days23 Days-29.0%

Summary: Homes in San Diego had an average of 23 days on market in Feb 2024, down by 29% compared to last year.

Breakdown of Home Sale Times

463 Homes Were Sold
Under 30 Days

110 Homes Were Sold
In 30 - 90 Days

30 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in San Diego are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 603 homes were sold in San Diego; 77% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

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