Real Estate Market Report - San Diego, CA (Mar, 2024)

The first dataset shows that the median sale price for homes was steadily increasing from March to September 2023, peaking at $985,000 in September before dropping to $860,000 in December. The median sale price then increased again to $950,000 in February 2024. The second dataset shows that the median list price for homes was also increasing from March to July 2023 before reaching a peak at $927,304 in August. It then decreased to $865,000 in September, before increasing again to $945,000 in February 2024.

The median sale price per square foot has been steadily increasing since March 2023, starting at $633.949 and reaching $679.59 in February 2024. The highest increase occurred between May and June 2023 and the largest price point was reached in February 2024.

The median sale price to list price ratio remained at 1.0 for several months before increasing slightly to 1.002 in May 2023 and peaking at 1.007 in June 2023, before decreasing to 1.0 again in August 2023 and remaining at that level for the remainder of the forecast period.

The data shows the number of properties sold/listed over a 12-month period, with the highest number of properties listed in May and June of 2023, with 1066 and 1117 respectively. However, the number of properties listed in December 2023 and February 2024 dropped significantly to 575 and 703. The number of properties sold also peaked in January 2024 with 1061, but the number of properties sold in December 2023 dropped sharply to only 575.

The median days on market for homes decreased from 14 days in March 2023 to 9 days in June 2023, which remained steady at 11 days for both July and August 2023 before increasing to 20 days in January 2024 and dropping down to 13 days in February 2024.