San Diego Real Estate Market Update – August 2023

Let’s check out the latest trends in the San Diego real estate market!

Month-over-month numbers show a decline in new listings, pending sales, and closed sales. However, the median price has increased by 1.2%.

Looking at long-term trends, new listings and closed sales have fallen significantly since 2022. Median prices, on the other hand, have increased by 5.4% in the past year.

Interest rates are currently near 7%, but experts predict that they will come down later this year. This could lead to an increase in activity in the market, as more people are able to afford homes.

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