San Diego Cited as Third Best Housing Market Nationally

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ZipRealty Inc. released a study Wednesday citing metro San Diego as the third best housing market in the United States last year with excellent prospects for 2014.

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For sale signs in California. Photo from Wikimedia Commons.

“The real estate markets in the western region soared compared to the rest of the country in 2013, based on data we compiled over the past year in our Housing Trends Report,” said Lanny Baker, CEO of Emeryville-based ZipRealty. “While we expect these metros to outperform once again this year, it should be at a more measured pace.”

Five of the top 10 housing markets were in California, with the San Francisco Bay Area ranked first and Sacramento second.

1 San Francisco Bay Area
2 Sacramento
3 San Diego
4 Las Vegas
5 Orange County
6 Los Angeles
7 Dallas
8 Houston
9 Washington, DC/Northern Virginia
10 Chicago

ZipRealty based the rankings on three evenly weighted housing metrics – median sales prices, median days on market and total housing inventory per capita.

For San Diego, the three statistics were:

  • Median home prices increased 20% on average in 2013 over 2012
  • Homes stayed on the market for an average of 24 days
  • 1.9 homes on average were available per 1,000 people

ZipRealty is a national real estate brokerage and provider of  technology and online marketing tools for the residential real estate brokerage industry.

— From a ZipRealty press release

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