San Diego Real Estate Market Update – September 2023

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

Right now, the median price for a detached home in San Diego is over one million dollars, up 13.5% year-over-year. Homes are selling quickly, but how long will the seller’s market last?

In this video, we’ll check out month-over-month trends, exploring new listings (which are up slightly), pending sales (which are down), and median price (which is up). The number of homes for sale has increased by 14%, signaling a potential shift in the market.

We’ll also have a look at year-over-year numbers, which show closed sales and inventory of homes are down, while median prices are up. Interest rates are hovering around 7.12%, which is making affordability more challenging for buyers.

If you’re considering buying or selling a home in San Diego, it’s crucial to be well informed, and enlist the help of a knowledgeable real estate professional. The market is presenting unique challenges and opportunities, and we’re here to help you navigate them.

If you’re ready to make your next real estate move, give us a call. We’re here to guide you through it all. Thanks for tuning in, and we’ll catch you next time!