The sales and prices of existing homes in San Diego County rose in March for the second month in a row, the Greater San Diego Association of Realtors reported Thursday.
Resale home sales jumped by 30% in March, though the volume remained a third lower than in March 2022, and the average number of days on the market has doubled in the past year.
The median price of resale homes edged up again last month, though is still under last year. Single-family home prices rose by 4.6% to $940,500. The price of condos and townhomes grew by 2.6% to $635,000.
“Mortgage rates will continue to dictate the market as we head into the spring homebuying season, but we are seeing some promising trends as price growth levels out,” said Frank Powell, president of the association.
“Prospective buyers are encouraged to focus on their budget and needs but remain flexible on location and financing options,” he added.
In March, the five zip codes in San Diego County with the most single-family home sales were:
- 92028 (Fallbrook) with 55
- 92057 (Oceanside North) with 37
- 92114 (Encanto) with 36
- 92065 (Ramona) with 35
- 92037 (La Jolla) with 32
The most expensive single-family property sold in March was a 10,285-square-foot gated estate in the Hillside neighborhood of La Jolla. The ocean-view home has 5 bedrooms, six bathrooms and a courtyard with pool. It sold for $15.8 million.
