Homes for Sale in San Diego, CA with Newest Listings | realtor.com® (2024)

FAQs

Is San Diego real estate slowing down? ›

According to the data, compiled through the San Diego Multiple Listing Service, the number of single-family home sales dropped 11% in June compared to May, and about a 5% decline from June 2023. Sales of attached properties such as condominiums and townhomes saw a more significant drop of 16% month over month.

San Diego is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Fitch found one local problem spot: San Diego. Its home prices, up 6.2 percent last year, were calculated to be 15 percent to 19 percent too high at 2023's end, by this math. That's the second-highest level of risk in the study. Contrast that to Los Angeles and Orange counties, where prices rose 4.9 percent last year.

San Diego, CA housing market

In June 2024, the median listing home price in San Diego, CA was $998K, flat year-over-year. The median listing home price per square foot was $744. The median home sold price was $1.2M.

The San Diego housing market trends forecast for 2024 indicates a stable market with steady appreciation in home values. The median list price reflects this with a modest month-to-month climb, reaching toward the mid-$900,000s.

The Nonprofit Institute found that nearly two-thirds of San Diegans are considering moving out of the county, with 75% of these individuals citing the high-cost of living as their reason for moving out of San Diego. The housing crisis continues to persist in our region and is a pressing emergency.

Here's how each month of the year ranked for the best time to sell a house. The highest-earning months are, in ranking order, May, June, April and March. Just over 18 million purchase transactions took place during this period, according to ATTOM.

Yes, the San Diego housing market is hot. According to Redfin data from February, the median sale price is a high $940,000 and rising, up 10 percent since last year, and homes receive an average of five offers. Nearly half of homes that sold — 48.2 percent — went for above their list price.

The annual Demographia International Housing Affordability report assessed housing affordability in 94 major markets across eight countries. San Diego made the top 10 list of the world's most "impossibly unaffordable" cities. Los Angeles, San Francisco and San Jose also made the list.

Where is the most expensive place to live in San Diego? ›

Del Mar. With a median home price of $5,683,084 and a median rent of $2,952, Del Mar is the most expensive city on our list. Based on the growth in home prices in Del Mar over the last 3 years, it ranks No. 1 among all the cities in San Diego County.

After more than a year of Atlanta dominating the list of most overvalued housing markets, Detroit is now the most overpriced market in the United States, according to researchers at Florida Atlantic University and Florida International University.

However, the salary requirement is higher in cities like Sacramento, Los Angeles, Irvine, and San Diego. To live comfortably, people in these areas should make over $104,000. The study found that 7 of the 10 cities with the highest salaries needed to live comfortably are in California.

Here's how much income you need to buy a home in San Diego

According to a recent study by Zillow, people looking to buy a home in San Diego need to have an income of at least $273,613. A monthly mortgage payment in San Diego is approximately $5,757 with a 10% down payment.

At 100k in San Diego you can have a good life, but it is certainly not going to be extravagant. You are probably looking at $30,000 a year for a nice rental, add another $5,000 - $10,000 for utilities, insurance etc. and all of a sudden $100,000 does not stretch as far as you would like.

The median rent in San Diego fell by 0.1% over the course of July, and has now decreased by a total of 3.5% over the past 12 months. San Diego's rent growth over the past year has has fallen behind both the state (-0.7%) and national averages (-0.8%).

Home sales in Southern California have faced noticeable dips, reflecting a significant contraction in buyer activity. In June 2024, the region experienced a 11.5% year-over-year (YoY) decline in sales, illustrating a tightening market compared to the previous year.

San Diego home prices are rising at the fastest rate in the nation for the first time in nearly 20 years. The San Diego metropolitan area's annual home price increased 8.8 percent annually in December, according to the S&P Case-Shiller Indices report released Tuesday.

Experts suggest there may be some moderation in price growth, but it is unlikely that we will see broad declines in the California real estate market. Compared with previous cycles, 2024 shows similar trends around tight inventory and high demand.