Prices of certain resale homes in San Diego County fell slightly in October as overall sales continue to drop, according to the Greater San Diego Association of REALTORS.
Sales remained strongest in parts of North and East County, according to data SDAR compiles on the current home sales market through the San Diego Multiple Listing Service (SDMLS).
Home prices remain about 10% higher than a year ago, with the median price of single-family detached properties standing at $964,000. The price for condominiums and townhomes, or attached homes, was $667,500.
Compared to the previous month, resale prices of single-family homes were down 3.6%, while prices of attached homes were up just over 1%.
The number of previously owned homes that sold in October fell 10% from October 2022, although sales of single-family homes ticked up from September by 3%. Conversely, condos and townhomes saw a decline in sales, month-over-month, by 6%.
For the year-to-date, resale home totals have seen a steep drop of 25% from last year.
“While sales remain lower than average, it is important to remember that because of the higher mortgage rates there are also less buyers on the market,” said SDAR President Frank Powell. “This unique opportunity provides an increased chance for buyers to acquire a home, and with the ability to later refinance rates, it remains a promising time to purchase homes.”
In October, zip codes in San Diego County with the most single-family home sales were:
- 92028 (Fallbrook) – 41
- 92064 (Poway) – 32
- 92026 (Escondido North) – 29
- 91977 (Spring Valley) – 28
- 92078 (San Marcos South) – 27
The most expensive single-family property sold in October in San Diego County – and in the county’s history – was a historic beachfront estate on Sandy Lane in Del Mar.
Built by Hollywood real estate developer C.E. Toberman in the 1950s, the $44.1 million ranch-style home covering more than one acre has 8 bedrooms, 7.5 baths, a detached apartment, tennis court and swimming pool.
