DownsizingFor Sale By Owner Tips & StrategiesInvestor Tips & StrategiesMarket Trends & StatsReal EstateSellers February 3, 2024

Stay Informed: Your January Market Update Report

Greetings, Real Estate enthusiasts!

As we step into the new year, it’s time to explore the latest trends and figures shaping the dynamic housing market in San Diego County. Whether you’re considering buying, selling, or simply curious about the state of real estate affairs, these January 2024 statistics offer valuable insights for all parties involved. Let’s dive into the numbers:

Average Sales Price: $1.09 Million (+8%)
Home prices in San Diego County have experienced a steady 8% increase, with the average sales price reaching $1.09 million. This uptick reflects the ongoing demand for properties in our vibrant community.

Median List Price: $995,000 (+8%)
The median list price has also seen an 8% rise, reaching $995,000. This indicates that sellers are confident in the value of their properties, while buyers can expect competitive pricing in the market.

Sales Price / List Price Ratio: 99.43% (+1%)
The sales price to list price ratio has inched up by 1%, settling at a strong 99.43%. This suggests that sellers are achieving prices close to their asking rates, providing stability and transparency in transactions.

Number of Properties Sold: 1,375 (-1%)
Despite a slight 1% decrease, a substantial 1,375 properties were sold in January 2024. This figure underscores the continued activity in our housing market, offering ample opportunities for both buyers and sellers.

Months Supply of Inventory: 1.90 (-13%)
Inventory levels have decreased by 13%, resulting in a 1.90 months’ supply of inventory. While this indicates a tighter market, it also means buyers have less competition and sellers may find increased interest in their listings.

Whether you’re a prospective buyer eager to find your dream home or a savvy seller looking to capitalize on market trends, these statistics serve as valuable guideposts in your real estate journey. San Diego County continues to be a dynamic and sought-after locale, offering diverse opportunities for buyers and sellers alike.

As we navigate the intricacies of the real estate landscape together, stay tuned for more updates, insights, and expert advice to help you make informed decisions in this ever-evolving market.

Here’s to a successful and fulfilling year in real estate!