Despite temperatures heating up, San Diego home sales cooled down in June, compared to May, according to the Greater San Diego Association of Realtors which compiles data on the current home sale market through the San Diego Multiple Listing Service.
Single-family and attached home resales were down about 10% month-over-month in June, and are down about 26% compared to June of 2022, as fluctuating mortgage rates and a near all-time low level of inventory continue to influence sales.
The median price of single-family homes in the county rose to $1 million in June, for only the second time in history. That’s an increase of nearly 5% from May. The attached median price (for condominiums and townhomes) was $650,000, a 2% increase month-over-month. Compared to the same month a year ago, all resale home prices in June were 2% higher.
“San Diego County is still seeing relatively slow market growth in comparison to the rest of the country,” noted SDAR President Frank Powell. “Nationally, we are excited about the near-historic average home prices, and the appreciation of home prices reflects the importance of families to have the ability to build generational wealth.”
“Because of this, we will continue to urge the California legislature to support homeownership initiatives, such as the ‘California Dream for All’ program, and press for the reduction of regulatory building costs to allow more San Diegans to enter the home-buying market,” he said.
In June, the zip codes in San Diego County with the most single-family home sales were:
- 92028 (Fallbrook) with 46
- 92065 (Ramona) and 92127 (Rancho Bernardo West), both with 35
- 92026 (Escondido North) with 34
- 92057 (Oceanside North) with 33
- 92056 (Oceanside East) with 32
The most expensive single-family property sold in June in San Diego County was a 1,700-square-foot contemporary beach house on Ocean Front in Del Mar. Completed in 2019, the 3-bedroom, 3-bath home has an oceanfront patio and balcony and a massive rooftop living/dining room. The property sold on June 14 for $13.5 million.
SDAR’s housing statistics are compiled monthly from the Multiple Listing Service. Click here for a detailed look at the numbers.
