San Diego Most Expensive

According to third quarter 2013 National Association of Home Builders and Wells Fargo Housing Opportunity Index, San Diego is among the most expensive places to live in the country. The index grades more than 220 metropolitan regions in the U.S. on their housing affordability. While San Diego ranks high nationally, experts point out that owning a San Diego luxury home is actually much more attainable than other coastal areas included in the survey.

During the third quarter, the index found that over 28 percent of San Diego homes were labeled as “affordable” to buyers with a median income of $72,300. The median price of a San Diego home during this timeframe was $411,000. San Diego was bested by other California regions like San Francisco, Orange County, Los Angeles and San Luis Obispo.

The San Diego luxury real estate market is one where prices will generally be higher because builders have the ocean to contend with, which significantly cuts down on their ability to expand. Alan Gin, economist at the University of San Diego, said: “You’ve got the situation where people are accepting the high cost basically and a lower standard of living because of the desirability of the area.”

Search Luxury Homes in SoCal Now

As San Diego luxury home prices are finally pushing higher after years of losses during the recession, home owners are once again able to breathe a sigh of relief. Gin went on to say: “We got hit pretty hard by the downturn, but that doesn’t mean that other areas weren’t hit as well. Coastal California is just really expensive, so we got hit really hard, but by comparison we were still expensive.”

Inventory Continues to Challenge Buyers

Supply and demand continues to be at the forefront of many buyers minds in the San Diego luxury real estate market. For much of 2013, there were more interested buyers than there were homes to go around. As home values have improved, more sellers have finally started listing their homes for sale and real estate experts believe that this trend will continue into the new year.

But as Susan Riggs, executive director of the San Diego Housing Federation, points out: “When you have an undersupply to begin with, it’s a really difficult hole to dig out of. This trend is not sustainable over the long-term.”

Here’s a look at least affordable housing markets per the Wells Fargo Housing Opportunity Index: 

  1. San Francisco-San Mateo-Redwood City
  2. Santa Cruz-Watsonville
  3. Los Angeles-Long Beach-Glendale
  4. Santa Ana-Anaheim-Irvine
  5. New York-White Plains-Wayne, NY-NJ
  6. San Luis Obispo-Paso Robles
  7. San Jose-Sunnyvale-Santa Clara
  8. San Diego-Carlsbad-San Marcos
  9. Santa Rosa-Petaluma
  10. Napa

Please contact our team of luxury property experts for assistance with your San Diego luxury real estate needs. We would love the opportunity to discuss your unique real estate objectives in one of the most competitive housing markets in Southern California.

Homes in San Diego, California between $2,999,000 and $3,999,000

  1. 5 beds, 6 baths
    Home size: 7,175 sq ft
  2. 5 beds, 6 baths
    Home size: 7,175 sq ft
    Lot size: 35,719 sqft
  3. 5 beds, 7 baths
    Home size: 4,119 sq ft
    Lot size: 11,299 sqft
  4. 5 beds, 7 baths
    Home size: 4,119 sq ft
    Lot size: 11,325 sqft
  5. 4 beds, 5 baths
    Home size: 6,202 sq ft
    Lot size: 27,878 sqft

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.