San Diego Housing Market Update — December 2024

• More Listings Drive Demand •

The San Diego housing market held strong in December, overcoming the usual seasonal slowdown that traditionally leads to reduced home sales activity, as people gather and cozy up at home during the holiday season.

Both total home sales and new listing inventory were on the rise year-over-year in December to closeout 2024. Buyers had more listing options available to choose from at the start of this Winter season versus last year, while Sellers enjoyed solid price growth.

Detached home sales grew by 23 percent in December 2024 compared to December 2023. Attached homes, like condos and townhomes, saw a 23.4 percent increase. Homes stayed on the market nearly twice as long, averaging 36 days before selling, compared to a speedy 19 days on market last year.

December 2024 San Diego Housing Market Update

Home prices in San Diego continued to rise despite more inventory hitting the market in December.

The median sale price for detached homes reached $1,010,000, up 6.9 percent year-over-year. Attached homes such as condos and townhomes saw a smaller gain, with the median price increasing to $660,000, a 1.5 percent rise from last year. This steady growth reflects a balanced market with more housing inventory and strong pent-up Buyer demand. 

Housing inventory grew significantly in December, offering buyers more options to choose from. Detached home listings increased by 16.3 percent, while attached home inventory – including condos and townhomes – surged by 31.3 percent. Home Buyers benefit from a broader selection of listings available, while Sellers still see strong demand and stable prices. 

San Diego Zip Codes with Most Homes Sold December 2024

The top zip codes for home sales in San Diego County during December were:

• 92028 (Fallbrook) with 34
• 92065 (Ramona) with 25
• 91977 (Spring Valley) with 23
• 92057 (Oceanside North) and 92084 (Vista East) both with 22
• 92071 (Santee) with 21

These areas represent some of the most popular housing markets around Inland San Diego with suburban & semi-rural homes for sale that have more affordable properties available, as compared to neighborhoods just West of I-5 along the coast. They highlight a shift toward larger homes offering more square footage for the price, outside coastal areas of San Diego. 

Most Expensive House Sold in San Diego December 2024

The most expensive house sold last month during December 2024 in San Diego County was a grand Hamptons-style oceanfront estate on Sea Cliff Way in Olde Del Mar. Built in 2019, this stunning custom home spans over 6,200 square feet and features 5 bedrooms with 6 bathrooms plus a finished basement on the lower level.

Located along the sandy shores of Sea Grove Park near Sea Cliff Coastal Bluff Trail, this estate offers sweeping panoramic ocean views. Highlights include a private elevator, movie theater, full gym with dry sauna & steam room, and climate-controlled wine cellar equipped with a wet bar. It sold on December 13th for $15,000,000. Listed by Eric Iantorno and Pilar Meza at Pacific Sotheby’s International Realty. MLS# 240020723.

San Diego Housing Market Real Estate Data

This snapshot of the latest San Diego real estate stats from last month in December 2024 shows the percentage change year-over-year compared to December 2023. Increased inventory of homes for sale is leveling out San Diego home prices. Read on for a detailed analysis of this historical data and what impact these metrics have on Sellers, Buyers, and real estate trends around your neighborhood in San Diego.

Data on the current housing market in San Diego is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).

Sources: 

https://sdar.stats.10kresearch.com/docs/mmi/2024-12/x/report?src=page

https://nsdcar.stats.10kresearch.com/docs/lmu/x/SanDiegoCounty?src=map

https://media.sdar.com/media/CurrentStats.pdf