Real Estate
Realtors: San Diego Home Values Stable In November Despite Falling Sales Volume
"It is common to see a slowdown around the holidays, but it is encouraging that homes in San Diego are holding their value."
December 13, 2022
Home prices in San Diego County were essentially unchanged in November, despite a 47% year-over-year plunge in sales volume, the Greater San Diego Association of Realtors reported Tuesday.
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The median sales price of a single-family home increased by 0.2% from October to November to $885,000 and is 3.4% higher than a year ago.
But the number of homes sold fell by 13.9% from October to November, and was 46.8% less than in the same month last year.
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The trend for condominiums and townhomes was slightly different, with a 1.9% month-over-month decline in prices, and only a 1.6% increase year-over-year. The dropoff in sales volume was similar.
“It is common to see a slowdown in real estate activity around the holidays, but it is encouraging that homes in San Diego are holding their value and that inventory has increased over last year,” said Chris Anderson, president of the association.
“To address our region’s dire housing needs and improve affordability, we must continue to focus on the supply of homes and new construction — at both affordable and market rates,” she added.
The five zip codes in San Diego County with the most single-family home sales in November were 92028 in Fallbrook, 91977 in Spring Valley, 92021 in El Cajon, 92027 in Escondido and 92078 in San Marcos:
The most expensive single-family property sold in November was an estate in La Jolla Farms with a main residence and guest house on nearly 3 acres of gated grounds. The nine-bedroom, 14,200-square-foot complex sold for $17 million.
The Realtors association’s housing statistics are compiled monthly from the Multiple Listing Service.
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