San Diego County Real Estate Market: Current Trends and Statistics

Contact Ken Tritle at DreamWell Homes Realty – Call or Text 760-798-9024. Thank you!

Local Market Update: March 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 March 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.

Detached Single-Family Homes:

  • New Listings: There was a slight decrease of 0.8% in new listings compared to the previous year, indicating a relatively stable market.
  • Pending Sales: A positive trend emerged with a 3.8% increase in pending sales, suggesting growing interest from buyers.
  • Closed Sales: Despite a decrease of 10.6%, closed sales remained robust, indicating ongoing activity in the market.
  • Days on Market Until Sale: A significant decrease of 25.0% in days on market suggests properties are selling faster, reflecting high demand.
  • Median Sales Price: A notable increase of 11.2% in the median sales price indicates appreciation in property values, benefiting sellers.
  • Average Sales Price: Similarly, the average sales price rose by 7.1%, reflecting overall market strength.
  • Percent of Original List Price Received: Sellers received, on average, 2.0% more than the original list price, showcasing strong buyer competition.
  • Inventory of Homes for Sale: There was a substantial decrease of 20.2% in inventory, indicating limited options for buyers.
  • Months Supply of Inventory: This decreased by 6.3%, further highlighting the competitive nature of the market.

Attached Single-Family Homes:

  • New Listings: Showed a modest increase of 4.1%, indicating some growth in inventory.
  • Pending Sales: Experienced a slight decrease of 2.3%, suggesting a stabilization in buyer interest.
  • Closed Sales: Decreased by 8.2%, indicating a mild slowdown in market activity.
  • Days on Market Until Sale: A significant decrease of 17.9% indicates properties are selling faster compared to the previous year.
  • Median Sales Price: Experienced a healthy increase of 5.5%, reflecting positive market conditions.
  • Average Sales Price: Rose by 7.6%, indicating overall market strength in the attached single-family segment.
  • Percent of Original List Price Received: Sellers received slightly more than the original list price, indicating a competitive market.
  • Inventory of Homes for Sale: Showed a notable increase of 8.0%, providing buyers with more options.
  • Months Supply of Inventory: Increased by 23.1%, indicating a slight shift towards a buyer’s market.

In summary, both detached and attached single-family home markets in San Diego County experienced various trends in March 2024. Detached homes saw significant appreciation in prices and decreased inventory, favoring sellers, while attached homes experienced a more balanced market with moderate increases in inventory. Buyers and sellers should closely monitor these trends and consult with real estate professionals for tailored advice in navigating the dynamic San Diego County real estate market.

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.

Current as of April 7, 2024. All data from CRMLS.

Sources: Realtors Property Resource and North San Diego County Association of Realtors HomeDex

Realtors® Jean and Ken Tritle at DreamWell Homes Realty

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

Contact Ken Tritle at DreamWell Homes Realty – Call or Text 760-798-9024. Thank you!

About dreamwellhomes 306 Articles
DreamWell Homes Realty is a locally owned San Diego husband and wife real estate team. Jean and Ken Tritle offer their home buyer and seller clients the best professional and personalized real estate representation with unparalleled service and guidance. For more information, please call or text Jean and Ken Tritle at 760-798-9024. Thank you! DreamWell Homes Realty CA DRE# 01777754. Mailing address: 380 S. Melrose Drive, Suite 394, Vista, CA 92081 | San Diego County, California.