• May 2022 Update on San Diego Real Estate Trends in Late Spring •
While the recent one-two punch of rising prices and interest rates may finally be cooling the housing market nationwide, the California real estate landscape remained highly competitive in May. According to C.A.R, the Golden State’s median home price increased to a new all-time high of $884,890 in April, exceeding the previous record of $849,080 set in March.
Reflecting on this past May, home prices in the Los Angeles and Sacramento regions ticked up slightly from April, while San Francisco Bay and San Diego stayed the same. The number of active listings increased across all regions, benefiting buyers with more homes to choose from than the month prior.
All in all, California’s major metropolitan areas are still far from shifting to a buyers’ market as home prices continue to reach record-highs and housing inventory falls short. Here’s a detailed look at May numbers plus a few newly listed properties
San Diego County Market Stats: May 2022
2,712 Homes for Sale
29% Month-over-Month Change
2,724 Homes Sold
-6% Month-over-Month Change