city of san diego real estate - by owner - craigslist (2024)

FAQs

Will home prices drop in San Diego in 2024? ›

This year offers a unique landscape for buyers, sellers, and investors alike, as the market shows a tilt towards more buyer-friendly conditions. In 2024, San Diego's housing market is predicted to see an 11.0% increase in home sales and a 5.4% rise in median sales prices, signaling a thriving market.

Lawson-Remer said private equity giants and large corporations "are increasingly buying up the nation's scarce supply of homes, including in the San Diego region," driving up prices for their own profit and making the housing affordability crisis worse.

San Diego is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

San Diego, CA housing market

The median listing home price in San Diego, CA was $998.3K in July 2024, trending down -2.6% year-over-year. The median listing home price per square foot was $738. The median home sold price was $1M.

Yes. This is the best time to buy a house in California. With the current trend in the CA housing market, you'll find better deals on your dream home during Q2 2024. As per Fannie Mae, mortgage rates may drop more in Q2 of 2024 due to economic changes, inflation, and central bank policy adjustments.

Interest rates and home prices are so high in San Diego that even vacation rental buyers have fled. Mortgages for second homes in San Diego metro, typically a good indicator of vacation rental purchases, were down 45 percent in 2023, said a new study from real estate website Redfin and data analytics firm Optimal Blue.

Here's how much income you need to buy a home in San Diego

According to a recent study by Zillow, people looking to buy a home in San Diego need to have an income of at least $273,613. A monthly mortgage payment in San Diego is approximately $5,757 with a 10% down payment.

The IE's $579,000 typical house was 25 percent above its expected value in March 2024 — but that was only the No. 45 largest overvaluation of 100 metros tracked nationally. Homes in San Diego, worth $947,000, were 24 percent too high, by this math — the No. 50 overvaluation nationally.

The Willow Creek Estate in Rancho Santa Fe was listed on Aug. 28, 2024, for $100 million. Realtors for the property say it's the most expensive listing in San Diego County ever. The Willow Creek Estate in Rancho Santa Fe features 77 acres of land and even has its own 15-acre bass-filled lake.

What month is the best to sell a house? ›

Here's how each month of the year ranked for the best time to sell a house. The highest-earning months are, in ranking order, May, June, April and March. Just over 18 million purchase transactions took place during this period, according to ATTOM.

The average price per square foot for a downtown San Diego condo in 2022 was $786 with the average selling price being $901,525.

San Diego ranked No. 1 as the most expensive city in the nation to live, according to a 2023-2024 U.S. News analysis of the 150 largest metropolitan areas in the U.S. Yet many residents say they're happy to pay the added expense to live there, even referring to the higher cost of living as the “sunshine tax.”

Total nonfarm employment is projected to gain nearly 207,600 jobs by 2024. Sixty-two percent of all projected nonfarm job growth is concentrated in four industry sectors.

Mortgage rates could fall in 2024, but that's not a given. The Mortgage Bankers Association projects a 6.5% rate by the end of the year, while Fannie Mae predicts 2024 will end with rates at 6.4%.

Not only will prices not drop substantially in 2024, but prices are actually more likely to continue rising. The National Association of Realtors predicts that when August 2024 rolls around, existing home prices will be 2.6% higher than the year before. Freddie Mac expects a 0.8% bump during the same timeframe.

Following is a summary for year-end 2024, 2025 and predictions for the housing market through 2029. Although a recession is no longer predicted, economic growth is expected to decline from 2023's fairly robust rate of 2.5% to 2.1% in 2024 and 2% in 2025.