The median price of a single-family home in San Diego County plunged by 5.0% in August to $910,000, but the number of sales increased, the Greater San Diego Association of Realtors reported Wednesday.
Prices have fallen since the peak of $1 million in April, but are still 7.1% above the $850,000 median price recorded in August 2021.
Local Realtors reported 1,564 homes sold in August, an increase of 14.7% from July but down 30.5% from the same month a year ago.
The median price for condominiums and townhomes was unchanged in August at $605,000 and up 12.6% from $555,000 a year ago.
“The market is shifting in a more buyer-friendly direction with more inventory of homes on the market for a longer amount of time,” said Chris Anderson, president of the local Realtors association.
“The housing affordability index in San Diego has slightly improved after a historic low earlier this year, but we must do more to boost our housing supply and expand opportunities for homeownership,” he added.
In August, the zip codes in San Diego County with the most single-family home sales were:
- 92028 (Fallbrook) with 52
- 92065 (Ramona) with 47
- 92056 (Oceanside East) with 44
- 92057 (Oceanside North) and 92117 (Clairemont), both with 40
- 92021 (El Cajon) with 39
The most expensive single-family property sold in August in San Diego County was a newly built estate on Clubhouse Drive in Rancho Santa Fe. The 11,622-square-foot two-story property with 6 bedrooms, 8 baths, and 5 garage spaces sold for $16.6 million.