San Diego County home sales down, prices up slightly in November: report
SAN DIEGO — Home sales in San Diego County declined while prices up-ticked this month, according to a report.
The Greater San Diego Association of REALTORS® (SDAR), a company that uses data from the San Diego Multiple Listing Service (SDMLS), released its study Monday showing single-family resale home sales, were down by more than 17% in November compared to October. The median price of single-family homes rose 2% to $980,000.
Condominiums and townhomes sales, which were nearly 15% lower than last month, have a median price of $667,500, a 1% jump compared to October, according to SDAR.
San Diego ‘street vet’ makes history after honored as CNN’s 2023 Hero of the Year
“Home sales dropping as we enter the December holiday season is a very typical phenomenon in a yearly housing market cycle,” SDAR President Frank Powell said. “While families begin to spend more on travel and gifts, home buyers and sellers become busier and more cash strapped, creating an anticipated demand shortfall. As the Fed mulls lowering interest rates going into 2024, we continue to urge buyers and sellers to remain diligent and continue to look for a chance to create generational familial wealth with the purchase of a home.”
In November, Fallbrook (zip code: 92028) topped the most single-family home sales with 34, followed by Clairemont (zip code: 92117) with 31, Oceanside North (zip code: 92057) with 26 and Oceanside East (zip code: 92056) with 23, the report said. Closing out the list were Poway (zip code: 92064) and Mira Mesa (zip code 92126), which both had 22 single-family home sales.
The most expensive San Diego County single-family property sold was a $23.5 million newly built estate in Rancho Sante Fe on Linea Del Cielo, per SDAR.
Prior to close of escrow, homes this month were spending an average of 28 days on the market, the study said.
For the latest news, weather, sports, and streaming video, head to FOX 5 San Diego.
