San Diego Housing Market Update — October 2024

• Sales Climb, Inventory Grows •

San Diego home sales rebounded in October, bolstered by increasing inventory and persistent buyer demand.

Detached home sales surged by 14.5 percent month-over-month in October 2024 and were up 8.9 percent compared to October 2023. Condos and townhomes experienced a smaller rise, with sales increasing 4.2 percent from the previous month and holding steady year-over-year. Sales across all property types closed escrow in an average of 25 days during October 2024, compared to 18 days on the market a year ago.

October 2024 San Diego Housing Market Update

While closings and sales have increased, San Diego home prices are also on the rise. The median sales price for detached homes in San Diego climbed 8.9 percent year-over-year to $1,050,000, while condos and townhomes saw a more modest increase of 3.5 percent, reaching a median of $679,000. Collectively, the median home sale price in San Diego is trending about 6.2 percent higher than last October.

Rising inventory of homes for sale on the market in San Diego continues to expand, providing more opportunities for buyers. Detached homes saw a 30.9 percent increase in inventory, while condos and townhomes experienced a 50.9 percent boost. The growing number of listings for sale in San Diego gives you more options to evaluate, while higher interest rates continue to normalize sale prices compared to recent years.

San Diego Zip Codes with Most Homes Sold October 2024

In October, the zip codes in San Diego County with the most home sales were:

• 92028 (Fallbrook) with 41
• 92064 (Poway) with 32
• 92026 (Escondido North) with 29
• 91977 (Spring Valley) with 28
• 92078 (San Marcos South) with 27

Most Expensive House Sold in San Diego October 2024

The most expensive house sold last month during October 2024 in San Diego County was a timeless French-inspired estate in the Covenant of Rancho Santa Fe. Spanning over 15,649 square feet, this sprawling estate on Las Colinas features 9 bedrooms and 16 bathrooms — 9 full and 7 half — seamlessly blending European elegance with modern upscale amenities.

Highlights include 150-year-old vintage wood floors, custom Hope Steel windows, an English conservatory, wine cellar, two guest houses with full kitchens, and a Wimbledon-worthy tennis court. It sold on October 21st for $17.5 million. Listed by Laura Barry and Jim Graves of Barry Estates. MLS# 240015630.

San Diego Housing Market Real Estate Data

This snapshot of the latest San Diego real estate stats from last month in October 2024 shows the percentage change year-over-year compared to October 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/2024-10/x/report?src=page

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

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