Local Market Update: April 2024 – Insights for San Diego County Real Estate
The North San Diego County REALTORS® have provided an insightful overview of the local real estate market for April 2024. Let’s break down the key metrics for both detached and attached single-family homes in San Diego County to provide a clearer picture for sellers and buyers alike.
San Diego County Local Real Estate Market Report – April 2024
Detached Single-Family Homes:
- New Listings: In April 2024, there were 1,871 new listings, marking an increase of 18.3% compared to April 2023 (1,581).
- Pending Sales: The number of pending sales saw a minimal change, with 1,365 in April 2024 compared to 1,363 in April 2023, showing a 0.1% increase.
- Closed Sales: There were 1,351 closed sales in April 2024, a 5.1% increase from April 2023 (1,286).
- Days on Market Until Sale: Homes spent an average of 19 days on the market until sale, a decrease of 20.8% from April 2023 (24 days).
- Median Sales Price: The median sales price for detached single-family homes rose to $1,075,000, reflecting a significant increase of 14.1% from April 2023 ($942,500).
- Average Sales Price: Similarly, the average sales price increased to $1,443,139, up by 11.7% from April 2023 ($1,292,039).
- Percent of Original List Price Received: Sellers received 100.7% of the original list price on average, indicating a slight increase of 1.2% from April 2023 (99.5%).
- Percent of List Price Received: On average, sellers received 101.2% of the list price, a 0.9% increase from April 2023 (100.3%).
- Inventory of Homes for Sale: The inventory decreased to 2,188 homes for sale, showing a 2.9% decrease from April 2023 (2,254).
- Months Supply of Inventory: There was a slight increase in the months supply of inventory, rising to 1.8 months, reflecting a 5.9% increase from April 2023 (1.7 months).
Attached Single-Family Homes:
- New Listings: April 2024 saw an increase in new listings, with 1,017 listings, up by 29.4% from April 2023 (786).
- Pending Sales: The number of pending sales slightly increased to 740 in April 2024, showing a 2.6% increase from April 2023 (721).
- Closed Sales: There were 716 closed sales in April 2024, a minimal decrease of 0.7% from April 2023 (721).
- Days on Market Until Sale: The average days on market until sale decreased to 21 days, down by 4.5% from April 2023 (22 days).
- Median Sales Price: The median sales price for attached single-family homes increased to $680,000, reflecting a rise of 6.3% from April 2023 ($640,000).
- Average Sales Price: Similarly, the average sales price increased to $820,843, up by 11.6% from April 2023 ($735,680).
- Percent of Original List Price Received: Sellers received 100.1% of the original list price on average, indicating a minimal decrease of 0.2% from April 2023 (100.3%).
- Percent of List Price Received: On average, sellers received 100.7% of the list price, showing no significant change from April 2023 (100.8%).
- Inventory of Homes for Sale: The inventory increased to 1,261 homes for sale, reflecting a substantial increase of 33.2% from April 2023 (947).
- Months Supply of Inventory: There was a notable increase in the months supply of inventory, rising to 1.9 months, reflecting a 46.2% increase from April 2023 (1.3 months).
Overall Market Trends:
- Median Sales Price – Detached Single-Family: Over the rolling 12 months through April 2024, the median sales price for detached single-family homes reached $1,000,000.
- Median Sales Price – Attached Single-Family: Over the same period, the median sales price for attached single-family homes reached $657,750.
Note: All data provided is based on information from CRMLS and may not account for sale concessions and/or downpayment assistance. Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
Report Current as of May 4, 2024. Data sourced from CRMLS. Report © 2024 ShowingTime Plus, LLC.
Please note that these statistics are subject to change and may vary based on specific locations within San Diego County.
For further inquiries or assistance with buying or selling real estate in San Diego County, please don’t hesitate to reach out to us. Stay tuned for our next market update for the latest developments in the local real estate landscape.
Sources: Realtors Property Resource and North San Diego County Association of Realtors HomeDex
Contact Jean and Ken Tritle, a husband and wife real estate broker/agent team at DreamWell Homes Realty.
Call or Text: 760-798-9024
Email: jeanken@dreamwellhomes.com
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