San Diego Housing Market Update — March 2024

• Homes Sales Trend Upward Again •

The housing market in San Diego continued to show signs of resilience in March 2024, despite ongoing inventory challenges. This is evidence of a warming spring selling season due to low inventory of homes on the market. New listings are on the rise, but fierce competition to snatch up limited homes for sale is driving fewer days on market and puts upward pressure on prices during peak real estate season this spring and summer.

March San Diego Housing Market Update

Month over month, San Diego home sales saw a notable increase of 13% in March compared to February while sales of attached units like condos & townhomes rose by 5%. However, looking back year over year, there’s been a decrease in home sales – down 11% for houses and 7% for condos & townhomes. Despite this, home prices continued their upward trend – jumping 3% in just one month and a solid 8% increase year over year. Currently, the average price for a detached house in San Diego sits at $1,522,000 while condos & townhomes average at $870,000.

San Diego Housing Market Real Estate Data

This snapshot of the latest San Diego real estate stats from last month in March 2024 shows the percentage change year-over-year compared to March 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.