housing market

Median Home Price Up From Record Mark Set in June

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The California housing market outlook for 2020 is not great.

According to a Zillow survey, home values in San Diego are not expected to grow as fast as say Nashville or Dallas, yet San Diego's median home price has never been higher.

While what you can get for the median home price in San Diego -- $594,000 according to realtor Mark Powell -- is pretty diverse.

A two bed, one bath, 780 square-foot house on a quiet street in Clairemont is listed at almost exactly the median price.

And in City Heights, a two bed, one bath, 900 square-foot home with a granny flat is selling for $549,000.

One of the bigger homes available was a three bed, two bath, 1,400 square-foot home in Rolando listed at $569,000

All three options were once perhaps starter homes, but are now seemingly out of reach, Powell said.

“Because to qualify for a $600,000 home you probably have to make between $120,000 and $130,000 a year and have a substantial down payment. That's pretty hard for someone who's just getting started in the job market,” Powell said.

California home values won't grow in 2020 as much as they will in other states, according to a Zillow survey of real estate experts. But of major markets in California, San Diego is expected to be the hottest.

“Short of a crash in the market, I don't expect prices to go down anytime soon,” Powell said.

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