San Diego Home Prices
San Diego home prices and the latest real estate info for San Diego County. Call us today for a home value report 858-451-9000. San Diego home prices fluctuate on a daily basis. If you want to get and estimate on your Homes value, we suggest that you reach out to a member of our team.
Real Estate Portals
Real Estate Portals are not accurate and are therefore not reliable. Research shows that it is impossible for technology to produce an accurate Home Value Report, but rather a mathematical guesstimate and subsequently unsolicited phone calls. “Home sellers should be wary of inaccurate information, and the likelihood that their personal data will likely be sold to multiple third parties. The consequences are unsolicited, multiple calls, texts, and e-mails from different entities. When a San Diego resident considers selling their home, the first question that comes to mind is, “How much is my home worth?” With the power of the Internet, the consumer is lulled into a false sense of control regarding their home’s value.
According to Keller Williams’ Research, Real Estate Portal estimates will only be accurate up to 81%. For example, if the real value of a home is $600K, then an online home estimate will be guesstimated somewhere in the range of $540k – $660k.
Unfortunately, homeowners can potentially leave money on the table, or even worse, try and sell their home for an unrealistic price. Either way, in San Diego’s fast-moving market, setting the right price for a home will ultimately net the owner more money.
The problem with Real Estate Portals is that they remove the human element from the equation, and miss the physical aspects of the real worth of a home. Since every home has its own unique set of circumstances, the physical aspects must be taken into consideration. For instance, if a home needs a new roof or has faulty wiring, it will be worth less than a similar home in pristine condition. Conversely, many positive factors can increase the value of a home, such as an upgraded kitchen, a professionally landscaped yard, or a view lot.
San Diego Home Prices
San Diego home prices are moving quickly these days, and you need an accurate Home Value Estimate that you can rely on. We produce an accurate Home Value Estimate by combining current market data and a physical inspection of your home. We also factor in the current market conditions for a specific neighborhood. The home value report is meticulously prepared by a trained, professional Keller Williams Real Estate Agent.
San Diego Home Values at Keller Williams Realty values your privacy will never share or sell their information to third parties.
San Diego Home Prices & Market Statistics
Updated May 2023
|Detached Single-Family||April||Rolling 12 Months|
|Key Metrics||2022||2023||Percent Change||Thru 4-2022 Thru 4-2023 Percent Change|
|New Listings||2,705||1,402||-48.20%||29,299 22,499 – 23.2%|
|Pending Sales||1,891||1,366||-27.80%||25,075 16,265 – 35.1%|
|Closed Sales||2,066||1,251||-39.40%||25,752 16,622 – 35.5%|
|Days on Market Until Sale||12||24||100.00%||15 24 + 60.0%|
|Median Sales Price*||$985,000||$945,000||-4.10%||$867,000 $910,000 + 5.0%|
|Average Sales Price*||$1,321,831||$1,295,535||-2.00%||$1,160,673 $1,204,563 + 3.8%|
|Percent of Original List Price Received*||106.70%||99.50%||-6.70%||103.4% 98.3% – 4.9%|
|Percent of List Price Received*||105.60%||100.40%||-4.90%||103.1% 99.9% – 3.1%|
|Inventory of Homes for Sale||2,724||1,524||-44.10%||— — —|
|Months Supply of Inventory||1.3||1.1||-15.40%||—||—||—|
2022 Annual San Diego Home Prices Report January 2023
2022 began where 2021 left off: Mortgage rates were near historic lows, buyer competition was fierce, and homes were selling at a breakneck pace, often with multiple bids and all-cash offers, due to pent-up demand and a shortage of housing supply, causing sales prices to soar to new heights.
But all that changed a few months later as mortgage rates began to rise, adding hundreds of dollars to monthly mortgage payments and causing housing affordability to plummet to its
lowest level in decades. As borrowing costs continued to increase, home sales and home prices began to slow, and after two years of record-breaking activity, the red-hot housing market was finally cooling.
Sales: Pending sales decreased 29.3 percent, finishing 2022 at 11,988. Closed sales were also down 28.9 percent to end the year at 12,264.
Listings: Comparing 2022 to the prior year, the number of homes available for sale was higher by 7.5 percent. There were 1,322 active listings at the end of 2022. New listings decreased by 12.5 percent to finish the year at 16,441.
Distressed: Previous forbearance efforts by the government and lenders limited distressed sales activity once again. In 2022, the percentage of closed sales that were either foreclosure or short sale increased by 25.0 percent to finish the year at 2.0 percent of the market. Foreclosure and short sale activity may increase in 2023, though the strong gains in equity seen by most homeowners in the last few years will help to limit the number of distressed sales.
Prices: Home prices were up compared to last year. The overall median sales price increased 11.0 percent to $900,000 or the year. Single-Family Detached home prices were up 9.2 percent
compared to last year, and Single-Family Attached home prices were up 14.9 percent.
List Price Received: Sellers received, on average, 101.2 percent of their original list price at sale, a year-over-year decrease of 1.7 percent.
Home sales continued to decline throughout much of the year, as affordability challenges took their toll on market participants, forcing many prospective buyers and sellers to the sidelines. To
help offset rising costs, some buyers moved from bigger, more expensive cities to smaller, more affordable areas, while others turned to the rental market, where competition and rental prices
surged. As mortgage rates continued to climb and market conditions shifted, many homeowners were reluctant to sell their homes, and with buyer demand down, homebuilders eased production, further constraining an already limited supply of housing.
Looking ahead to the 2023, much depends on inflation, mortgage interest rates, and the broader state of the economy, although economists predict many of 2022’s housing trends will
continue into the new year: home sales will soften, price growth will moderate, inventory will remain tight, and there will be greater variability between markets nationally, with some regions
possibly seeing price declines while other, more affordable areas of the country remain in high demand and experience price growth.
Updated on March 2022
Here is your San Diego market update as March 2022. Nationally, existing home sales recently dropped to a 6-month low, falling 7.2% as buyers struggled to find a home amid rising prices and historic low inventory. Pending sales are also down, declining 4.1% as of last measure, according to the National Association of REALTORS®. Builders are working hard to ramp up production—the U.S. Census Bureau reports housing starts are up 22.3% compared to a year ago—but higher construction costs and
increasing sales prices continue to hamper new home sales, despite high demand for additional supply.
- Closed Sales decreased 6.2 percent for Detached homes and 16.9 percent for Attached homes.
- Pending Sales decreased 6.1 percent for Detached homes and 13.7 percent for Attached homes. Inventory decreased 36.4 percent for Detached homes and 48.8 percent for Attached homes.
- The Median Sales Price was up 20.4 percent to $975,000 for Detached homes and 25.4 percent to $646,065 for Attached homes. Days on Market decreased 5.0 percent for Detached homes and 33.3 percent for Attached homes.
- Supply decreased 33.3 percent for Detached homes and 50.0 percent for Attached homes. Across the country, consumers are feeling the bite of inflation and surging mortgage interest rates, which recently hit 4.6% in March, according to Freddie Mac, rising 1.4 percent since January and the highest rate in more than 3 years. Monthly payments have increased significantly compared to this time last year, and as housing affordability declines, an increasing number of would-be home buyers are turning to the rental market, only to face similar challenges as rental prices skyrocket and vacancy rates remain at near-record low.
Updated February 2022
San Diego home prices are soaring, and the U.S. real estate market remains hot ahead of the spring selling season, with existing home sales up 6.7% as of last measure, according to the National Association of REALTORS®. Experts attribute the growth in sales to an uptick in mortgage interest rates, as buyers rushed to lock down their
home purchases before rates move higher. Mortgage rates have increased almost a full percentage point since December, with the average 30-year fixed-
rate mortgage briefly exceeding 4% in February, the highest level since May 2019.
- Closed Sales decreased 11.1 percent for Detached homes and 14.6 percent for Attached homes.
- Pending Sales decreased 5.6 percent for Detached homes and 12.1 percent for Attached homes. Inventory decreased 42.0 percent for Detached homes and 51.2 percent for Attached homes.
- The Median Sales Price was up 18.1 percent to $915,000 for Detached homes and 21.5 percent to $625,000 for Attached homes. Days on Market decreased 14.8 percent for Detached homes and 34.5 percent for Attached homes. Supply decreased 40.0 percent for Detached homes and 50.0 percent for Attached homes.
- Inventory was at an all-time low of 860,000 as February began, down 17% from a year ago and equivalent to 1.6 months’ supply. According to Lawrence Yun, Chief Economist at the National Association of REALTORS®, much of the current housing supply is concentrated at the upper end of the market, where inventory is increasing, while homes priced at the lower end of the market are quickly disappearing, leaving many first-time buyers behind. The shortage of homes is boosting demand even further, and with bidding wars common in many markets, it’s no surprise sales prices continue to soar.
Updated on October 14, 2020
San Diego Homes
This week the median list price for San Diego, CA is $1,077,000 with the market action index hovering around 72. This is less than last month’s market action index of 73. Inventory has held steady at or around 606.
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
San Diego Condos
This week the median list price for San Diego, CA is $575,000 with the market action index hovering around 49. This is less than last month’s market action index of 50. Inventory has held steady at or around 986.
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.CLICK HERE TO BUY OR SELL A HOME
Where Are San Diego Home Prices Headed
Updated October 3, 2020
As shelter-in-place orders were implemented in San Diego earlier this year, real estate experts questioned what the shutdown would mean to the real estate market. There was concern about the direction of home prices. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt? Even worse, would San Diego County home prices begin to decline?
Original forecasts modeled this uncertainty, and they ranged anywhere from home values gaining 3% (Zelman & Associates) to home values depreciating by more than 6% (CoreLogic).
However, as the year unfolded, it became clear that there would be little negative impact on the housing market. As Mark Fleming, Chief Economist at First American, recently revealed:
“The only major industry to display immunity to the economic impacts of the coronavirus is the housing market.”
Have prices continued to appreciate so far this year?
The Federal Housing Finance Agency (FHFA) released its latest Home Price Index. The report showed home prices actually rose 6.5% from the same time last year. FHFA also noted that price appreciation accelerated to record levels over the summer months:
“Between May & July 2020, national prices increased by over 2%, which represents the largest two-month price increase observed since the start of the index in 1991.”
Here is what the experts are forecasting for home prices.
Below is a graph of home price projections for the next year. Since the market has changed dramatically over the last few months, this graph shows forecasts that have been published since September 1st, 2020.
Summary of Home Prices
The numbers show that home values have weathered the storm of the pandemic. Let’s connect if you want to know what your home is currently worth and how that may enable you to make a move this year. Because San Diego Real Estate has take off over the past 9 months, there has never been a better time to consider putting your home on the market.CLICK HERE TO BUY OR SELL A HOME
San Diego Key Market Statistics
Updated August 29, 2019
New Listings down -7.7% YTD
Pending Sales up +14.9% YTD
Closed Sales down -3.1% YTD
Median Sales Price up 2.3% YTD
Days on Market up +3.7% YTD
CLICK HERE TO BUY OR SELL A HOME
San Diego Home Prices Continue To Rise
Updated November 21, 2018
If the past few months are a sign of what is happening in housing markets across the country, you can expect a relative calm during the last three months of the year.
The trend of balanced market is emerging as we approach the end of 2018. While home prices are still rising in most areas of San Diego, the number of homes for sale is still low. There is a overall shrinking of the year-over-year percentage change gaps in sales, inventory and prices.
Closed Sales were down 16.8 percent for Detached homes and 15.3 percent for Attached homes. Pending Sales were also lower at 4.7 percent for Detached homes and 6.5 percent for Attached homes.
San Diego Home Inventory improved 28.8 percent for Detached homes and 38.0 percent for Attached homes. The Median Sales Price was up 6.3 percent to $645,000 for Detached homes and 4.5 percent to $418,000 for Attached homes. Days on Market increased 9.4 percent for Detached homes and 11.5 percent for Attached homes.
Supply increased 38.1 percent for Detached homes and 43.8 percent for Attached homes. Stock markets experienced an October setback, but that does not necessarily translate to a decline in the real estate market. The national unemployment rate has been below 4.0 percent for three straight months and during five of the last six months.
This is exceptional news for industries related to real estate. Meanwhile, home builder confidence remains positive, home ownership rates have increased in the key under-35 buyer group and prices, though still rising, have widely reduced the march toward record highs.CLICK HERE TO BUY OR SELL A HOME
San Diego Home Prices
Updated August 2018
San Diego home prices continued to rise, higher interest rates and increased building material costs have pressured San Diego housing affordability to a ten-year low, according to the National Association of Home Builders.
National market experts have been watching this situation take shape for some time. Nationally, median household income has risen 2.6% in the last 12 months, while home prices are up 6.0%. That kind of gap will eventually create fewer sales due to affordability concerns, which is happening in several markets, especially in the middle to high-middle price ranges.
In San Diego county closed sales decreased 18.2 percent for Detached homes and 17.3 percent for Attached homes. Pending Sales decreased 6.3 percent for Detached homes and 5.8 percent for Attached homes. Inventory increased 15.4 percent for Detached homes and 31.5 percent for Attached homes.
The Median San Diego home price was up 9.8 percent to $670,000 for Detached homes and 6.3 percent to $425,000 for Attached homes. Days on Market remained flat for Detached homes but increased 9.1 percent for Attached homes. Supply increased 21.7 percent for Detached homes and 43.8 percent for Attached homes.
While some are experts are starting to look for recessionary signs like fewer sales, dropping prices and even foreclosures, others are taking a more cautious and research-based approached to their predictions.
The fact remains that the trends do not yet support a dramatic shift away from what has been experienced over the last several years. Housing starts are performing admirably if not excitingly, prices are still inching upward, supply remains low and consumers are optimistic. The U.S. economy is under scrutiny but certainly not deteriorating.
San Diego home prices will start to level out, but no one knows exactly when that will be. What we do know is that the market is hot right now, and prices are still rising, so now is a great time to put your home on the market!
One Year Change in Median Sales Price Detached & Attached +8.7%
Updated for April 2018
Many sellers and builders are in a good position for financial gains, as the economy continues to favor putting existing homes on the market and building new homes for sale. We are finally beginning to see some upward movement in new listings after at least two years of a positive outlook. There may not be massive increases in inventory from week to week, but a longer-term trend toward more new listings would be a good sign. Low inventory should continue to create a competitive situation for buyers, causing price increases over the next several months.
Closed Sales decreased 7.8 percent for Detached homes and 7.1 percent for Attached homes. Pending Sales increased 1.6 percent for Detached homes but decreased 3.0 percent for Attached homes. Inventory decreased 5.4 percent for Detached homes but increased 8.0 percent for Attached homes.
The Median Sales Price was up 8.3 percent to $640,000 for Detached homes and 10.4 percent to $425,000 for Attached homes. Days on Market decreased 10.3 percent for Detached homes and 4.3 percent for Attached homes. Supply remained flat for Detached homes but increased 14.3 percent for Attached homes.
This winter and spring exhibited irregular seasonal weather patterns in much of the country. As the seasons change to something more palatable, wages and consumer spending are both up, on average, which should translate positively for the housing market. Being quick with an offer is still the rule of the day as the number of days a home stays on the market drops lower. If that wasn’t enough for buyers to mull over with each potential offer, being aware of pending mortgage rate increases is once again in fashion.