San Diego Real Estate Market Update 9.20.23

by Rachell Lara

San Diego County Real Estate Market: Latest Weekly Update provided by Rachell Lara Realtor 619.316.7445

San Diego County Real Estate Market Update

San Diego Real Estate Market Statistics for the Last Week 9.13.23-9.20.23📈 including the following changes.

⬆️ San Diego County Median Home Price up from $905,000 to $907,000

⬇️ San Diego County Real Estate Inventory Levels down slightly to from 2,549

⬇️ Average Days On Market: is down to 16 from 20 last week

🟰 List to Sales Price Ratio stayed the same as last week101%

⬆️ Interest Rates 7.3%* for 30 Year fixed* increased to 7.65%

San Diego County homeowners, home buyers, and investors! As your trusted local real estate guide, I'm here to explain the latest market statistics and what they mean for you. Let's dive into the numbers and explore how you can make this market work in your favor. 📈

For Home Sellers 🏠 If you're considering selling your home, now is still an excellent time. The median home price in San Diego County is on the rise, currently sitting at $907,000 for all property types combined. Single-family homes are particularly strong at a median price of $985,000. Prices are still near the all-time high. There's a pool of eager buyers waiting for the right house. 🌟

or Home Buyers 🏡 High prices and interest rates mean less affordability, but opportunities still exist in this market. You might need to adjust your budget or consider moving inland to find something more affordable. Purchasing now allows you to build equity that can increase your buying power in the future. Don't let the numbers deter you; with the right strategy, your dream home is still within reach. 🏡

For Homeowners 🏠 If you're already a homeowner, you're in a good position. Prices remain strong due to low inventory, which bodes well for your property's value. Keep an eye on the market, and if you're thinking of selling, this might be an excellent time to cash in on your investment, especially if you already have a house to live in or can purchase without a loan. 📊

No matter where you fit in the real estate landscape, remember that having a knowledgeable guide by your side is crucial. I offer free, no-obligation consultations to discuss the strategies that align with your goals. Let's chat and navigate this ever-changing market together. Contact me at 📞 619.316.7445 or via email at Rachell@LaraandCo.com. You can also schedule an appointment on my website. 🗓️

These market stats are updated weekly, allowing us to stay ahead of the curve. Unlike local media, which tends to lag behind, I ensure you have the most current information to make informed decisions. 📆

⬆️San Diego County Median Home Price $907000

This median number is based on the single-family, condo and townhomes that sold. This week were are at 907000 for the combined median of Single Family, Condos, and Townhomes. This number is up from last week and up from one year ago.

⬆️Median Home Price - Single-Family Homes -$985,000

⬆️Median Home Price -Condos & Townhomes -$628,750

⬇️Median Active Listing Price All (SFR, Condos, Townhomes) -new $1049000

⬆️Median Pending Listing Price All (SFR, Condos, Townhomes)new $899000

⬇️San Diego County Real Estate Inventory Levels:

down by 21

San Diego County Real Estate Inventory Activity for the Week:

⬇️New Listings to the Market: 357

⬇️Houses that went under contract: 311

⬇️Houses that expired: 61

⬇️Houses Sold Last Week: 257

⬇️Current Active Houses for Sale: 2,528

⬆️Interest Rates are up 7.65% several weeks 7.24% for 30Year fixed according to The Mortgage News Daily Rate

⬆️Average Days On Market: went down 4 to 16

⬆️List to Sales Price 101% stayed the same

⬆️This highest-price sale this week was $8500000

⬆️The lowest-priced sale was $310000

Number of Price Changes 231

San Diego County Real Estate Market Key Statistics Definitions & Details:

Median Home Price: An overall indicator of market trends.
Inventory Levels: Impacts competition, indicating market direction.
Days on Market: Shows the market's pace, influencing pricing.
List to Sales Price Ratio: Crucial for understanding price negotiation.
Price Changes: Indicates market adjustments.

Remember, just like San Diego's microclimates, our real estate market has its own unique variations. Reach out for neighborhood-specific data. Let's connect for a no-obligation discussion whether you're ready to take action or just considering your options. Your property's value in today's market is just a call away. 📲

Market numbers are based on the latest MLS data for the past 7 days in San Diego County, covering single-family homes, condos, and townhomes.