Take a Look at the Latest Numbers for San Diego County

San Diego Real EstatePodcast with Max Folkers

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San Diego is once again leading the nation, though not necessarily in a good way.
Home sales are down 20% year over year. As a result, we have more inventory than last year; currently, there are 1,900 more homes on the market than we had at this time in 2018. This is a good thing for homebuyers, but if you’re a seller, you can expect the market to be a bit slower.

Home prices are actually still up, having increased 2.5% over last year. As of January, the median home price was $542,000, which is down from last summer’s peak of $583,000. We expect those numbers to adjust with the seasons, so it remains to be seen how the spring and fall markets will play out this year.

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Keep in mind that real estate is always hyperlocal here in San Diego, and we’re subject to big swings.

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Keep in mind that real estate is always hyperlocal here in San Diego, and we’re subject to big swings. The higher-end homes in areas like Rancho, Santa Fe, and La Jolla are actually down 28% in terms of price. On the flip side, Oceanside is up 39% year over year. Here in Bay Park, we’re down about 8% from January of 2018.
Mind you, those are very small sample sizes, and home prices can change dramatically, which is why we tend to look at San Diego County as a whole. I wouldn’t give too much credence to those figures.
If you have any questions, you’re thinking of buying or selling a home, or would like to have a more in-depth discussion of market trends, please feel free to reach out to us. We’d love to be your real estate resource.