1 Minute San Diego Market Update [Apr24]

In April 2024, the average sales price for single-family homes in San Diego County increased by 8% to $1.43 million. The median list price also rose by 5% to $1.26 million. Homes are selling for 101.2% of the list price, indicating buyers are paying slightly above the asking price. There was a significant 25% increase in the number of properties sold, with 1,408 sold in total. However, inventory remains tight with a 5% decrease, resulting in only 1.8 months' supply. For buyers, this means a competitive market with rising prices and limited options, so acting quickly and making strong offers is crucial. On the other hand, sellers can benefit from high demand and increasing prices, allowing them to sell their homes quickly and at a good price. If you have any further questions or are considering buying or selling, feel free to contact Kat Josefowski with Coldwell Banker Realty. Hi, this is Kat Josefowski with Coldwell Banker Realty. Here's your quick market snapshot for San Diego County, April 2024. The average sales price for single-family homes is now $1.43 million, up 8%. The median list price has increased to $1.26 million, a 5% rise. Homes are selling for 101.2% of the list price, showing buyers are typically paying slightly above the asking price. We saw 1,408 properties sold, which is a notable 25% increase. Inventory does remain tight, with a 5% decrease now at 1.8 months' supply. So what does this mean for you? If you're a buyer, be ready for a competitive market with rising prices and limited inventory. It's important to act quickly and make strong offers. And for sellers, it's a fantastic time to list your property. The high demand and increasing prices mean you can sell your home quickly and at a great price. If you have any questions about the market or are considering buying or selling, feel free to reach out to me. I'm Kat Josefowski with Coldwell Banker Realty.