San Diego Housing Market Update — July 2024

• Home Sales Rebound •

In July, home sales in San Diego ticked back up after a slower June as prices continued a slowing trend. Prices continued to increase at a more gradual pace, with the median price for a detached home in San Diego dipping by nearly 3 percent — but remained above the $1 million mark in July. The median sale price for condos and townhomes in San Diego hovered at about $700,000. Compared to a year ago, prices of all home types are up about 11 percent.

July San Diego Housing Market Update

Detached home sales last month were up nearly 9 percent in July compared to June. Condos & townhome sales rose by almost 7 percent from the previous month in June 2024. Compared to a year ago in July of 2023, detached home sales increased just over 5 percent, while closings for attached homes were nearly unchanged.

In July, the top zip codes in San Diego County with the most single-family home sales were:

• 92028 (Fallbrook) with 46
• 92056 (Oceanside East) with 40
• 92021 (El Cajon) with 34
• 92117 (Clairemont) with 32
• 92024 (Olivenhain), 92026 (North Ridge), 92027 (East Valley), 92058 (Oceanside), and 92065 (Ramona), all tied with 31

Most Expensive House Sold in San Diego July 2024

The most expensive home sold last month during July 2024 in San Diego County was a custom-built gated golf estate in Rancho Santa Fe (RSF) with a total interior footprint of nearly 14,000 square feet. Located on a private 2.7 acre lot on Los Arboles inside The Covenant of RSF, this house was built in 2019 by a renowned team of architects & designers and has 5 bedrooms, 8 total bathrooms (6 full baths + 2 half), a freestanding cabana between a resort pool, and 3-par golf course. It sold on July 19th for $15,500,000. Listed by Sean Barry & Susie Mikolajewski at Barry Estates.

San Diego Housing Market Real Estate Data

This snapshot of the latest San Diego real estate stats from last month in July 2024 shows the percentage change year-over-year compared to July 2023. Limited inventory of homes for sale has fueled a sharp uptick in 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/x/report?src=page

https://media.sdar.com/media/20240819_SDAR_July_Housing_Stats_Release.pdf

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