A single-family home for sale in San Diego
Home prices increased across San Diego County in February, following a statewide trend, the California Association of Realtors said Tuesday.
The median price of an existing single-family home in San Diego County in February was $980,000, up from $925,000 the previous month, and substantially higher than the $878,000 price of one year ago.
Statewide, the median price of an existing single-family home last month was $806,490, up from $789,480 in January, and an increase from $735,300 a year earlier.
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The state's highest median home price in February was San Mateo County's $1.92 million.
February's statewide sales pace was 12.8% higher from the 257,040 homes sold in January and up 1.3% from a year ago, when a revised 286,290 homes were sold on an annualized basis.
In San Diego County in February, 13,987 single-family home sales were closed, with nearly an identical number pending, according to the Greater San Diego Association of Realtors.
The monthly sales increase was the second straight month of double-digit gains for California. It was also the second consecutive month of year-over-year gains, but the improvement was mild.
While it is likely that sales will stay below this level in the first quarter of 2024, statewide home sales on a year-to-date basis remained positive with an increase of 3.4%, suggesting a better spring home purchasing season than last year, according to CAR.
San Diego Real Estate
"Housing supply conditions in California continued to improve in February with new active listings rising more than 10% for the second straight month," CAR President Melanie Barker said. "This is great news for buyers who have been competing for a dearth of homes for sale, and the momentum will hopefully build further as we enter the spring home buying season."
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