San Diego Market Improves

Coming off of a particularly slow fall and winter season, San Diego is seeing some life brought back into its real estate market. According to recent statistics from the S&P Case-Shiller index, San Diego County’s housing market saw its largest price gain in January 2014 since 2004. In fact, the county posted the nation’s most improved year-over-year home value increases this January.

From December to January, the price index increased by 0.6 percent coming off of a month-over-month decrease of 0.1 percent. Seasonally adjusted, the price increase in the first month of the year was at 1.8 percent, which was the largest gain in the 20 metro areas S&P Case-Shiller studied. On a year-over-year basis, the average in January upticked by 19.4 percent.

“I’m not expecting any great movements one way or another for the rest of this year, and that’s a good thing,” Mark Goldman, a real estate lecturer at San Diego State University, told the U-T San Diego. “I think a stable market is a healthier market.”

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Economists are optimistic that price increases, inventory and demand are going to balance out this year. DataQuick reported the total number of houses sold in February fell 8.6 percent compared with statistics from the prior year.

The publication also noted: “The inventory of homes for sale in the county jumped 44 percent to 6,099 active listings, according to the San Diego Association of Realtors. However, that’s still below the 8,000 to 9,000 listings seen in more typical markets, and well below the 14,000 listings near the 2005 peak.”

San Diego Housing Market Update

The San Diego housing market continues to show improved home values well into the start of 2014, according to statistics from Altos Research, a California-based real estate analytics company. As of March 21, the median single-family home price was marked at $597,792 for the weighted 90-day average.

Taking a closer look, the seven-day average has shown that prices have increased continuously throughout the past four weeks. The seven-day average was posted around the $630,000 mark. If these trends continue, it will soon be more reflected in the 90-day average, which is likely as demand is on the rise.

Altos Research uses its Market Action Index to measure the conditions of a local market to determine whether it favors buyers or sellers with a neutral value of 30. Throughout the past year, the index has been strongly in favor of sellers, even reaching a height of 63. However, the index has since fallen to a more sustainable level of 37.59, still very much in favor of sellers. This is a major player in the upward moving home values and tight inventory.

If you’re interested in learning more about homes for sale in San Diego, we would love the opportunity to show you around this exclusive region. Please contact our team of luxury property experts.

 Check out these listings in San Diego between $600,000 and $700,000

  1. 3 beds, 2 baths
    Home size: 1,820 sq ft
  2. 3 beds, 2 baths
    Home size: 1,820 sq ft
  3. 3 beds, 3 baths
    Home size: 1,819 sq ft
    Lot size: 5,999 sqft
  4. 3 beds, 3 baths
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  5. 2 beds, 1 bath
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See all City of San Diego Luxury Homes For Sale.
(all data current as of 10/22/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.