2023 Housing Prediction

San Diego Market Commentary -Call George Lorimer at 619-846-1244

Home Sales Continue to Fall, Prices are Mixed. Sales of single-family, re-sale homes in San Diego County were down 43.1% year-over-year. That’s twelve months in a row home sales have been lower than the year before. There were 1,156 homes sold last month. The average since January 2001 is 1,990. 

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The average sales price for single-family, re-sale homes fell 1.9% from October. It was down 0.4% year-over-year. The median sales price for single-family, re-sale homes rose 0.6% from October. It was up 1.4% year-over-year. That is the thirty-eighth month in a row when the median sales price has been higher than the previous year.

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Inventory rose 43.1% year-over-year. As of the 10th of December, there were 9,606 homes for sale, compared to an average of 7,739. Days of Inventory now stand at two-hundred and forty-one. The average is 131. Days on Market, or how long it took from when a home was listed for sale to when it went into escrow, was thirty-eight last month.

The average since January 2001 is fifty-seven days. Search for homes

• The median sales price for re-sale condos was up 0.8% year-over-year.
• The average sales price for condos was down 3.1% year-over-year.
• Condo sales were down 44.1% compared to last November.
• Condos are selling in thirty-four days, the average is fifty-five days.
• Condo inventory rose 157.1% year-over-year. As of the 10th of December, there were 3,820 condos for sale.
• Days of Inventory now stand at 192. The average is 123.