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San Diego County Market Snapshot: May 2024

Welcome to our latest market snapshot for San Diego County’s real estate scene in May 2024. This month, we’ve seen some exciting changes and trends that are worth noting for both buyers and sellers.

The average sales price for single-family homes, townhomes, and condominiums has risen by 12%, reaching $1.25 million. This indicates a robust and competitive market. The median list price is slightly down by 2%, now at $1.03 million, reflecting slight adjustments in seller expectations or market demands.

Our sales price to list price ratio remains strong at 100.8%, showing that properties are selling very close to their listed prices. This is a clear sign of a healthy demand and an active buyer pool.

In terms of volume, 2199 properties were sold in May 2024, a small decrease of 2% from previous months. However, we’ve seen a significant 43% increase in the months’ supply of inventory, now at 1.83 months. This increase in inventory is a positive sign for buyers, indicating more options and opportunities in the market.

For more detailed insights and analysis, check out my blog, Coastal Keys, where you can stay updated with the latest trends and valuable information about the San Diego real estate market.

Feel free to reach out for any questions or to discuss how these trends might impact your buying or selling plans.