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San Diego

San Diego

Real-Time Market Profile as of Mar 13, 2024
Median List Price$2,374,000
Median Price of New Listings$1,574,500
Per Square Foot$982
Average Days on Market77
Median Days on Market70
Price Decreased33%
Price Increased0%
Relisted22%
Inventory18
Median Rent$5,998
Market Action44

Market Action Index (MAI) as of Mar 13 2024

Slight Seller’s Advantage: Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Market Segments as of Mar 13 2024

Each segment below represents approximately 25% of the market ordered by price.

Median PriceSq. Ft.Lot SizeBedsBathAgeNewAbsorbedDOM
$3,397,0003,6696,500 – 8,000 sqft45.36302105
$2,644,0002,5986,500 – 8,000 sqft33690198
$2,025,0002,4186,500 – 8,000 sqft43690228
$1,625,0001,7950 – 4,500 sqft32672542

Source:Altos Research

What makes San Diego truly America’s Finest City? A great many things, but we can start with 17 miles of breathtaking open-water coastline, one of the best year-round climates in the country, a long list of world-renowned attractions, a high-appreciating real estate market, and an overflow of outdoor recreational pursuits everyone can enjoy at their pleasure. Welcome to the birthplace of California.

KEY MOMENTS IN SAN DIEGO, CA HISTORY

San Diego boasts a complex 9,000-year history, where it evolved from a bustling Native American settlement into one of Southern California’s most sought-after places to live.

  1. The pre-colonial period San Diego’s earliest inhabitants were several groups of Native American tribes, most notably the La Jolla and San Dieguito complexes, as well as the Kumeyaay, who arrived in the area around 1,000 CE. The Kumeyaay (also referred to as Diegueños) went on to establish the village of Kosa’aay, which is now known as Old Town San Diego. To this day, the Kumeyaay live in the city.

  2. California’s birthplace San Diego’s claim as the birthplace of California is very much rooted in historical records. In 1542, Juan Rodriguez Cabrillo and his crew arrived aboard the San Salvador– the first European explorer to come to the region and make contact. But it was Sebastian Vizcaino who mapped the coastline and christened the area as San Diego Bay in 1602. These two occasions paved the way for the Portola expedition in the 1770s. It’s the first recorded land exploration of California by the Europeans, which led to the creation of the Spanish missions and, eventually, the province of Las Californias.

  3. From the United States of Mexico to the United States of America The 19th century saw several landmark developments. First was the division of the province of Las Californias into two separate areas: Alta California– which San Diego became a part of– and Baja California. Not even two decades later, Mexico gained its independence from Spain as well as control of Alta California. Land grants were given, ranches were raised, but Kumeyaay raids prevented local population growth. Then, the Mexican-American War broke out in 1846 and lasted two years. The Americans emerged as the victors, with San Diego and most of Alta California given to the United States. California was granted statehood in 1850 and San Diego became one of California’s first incorporated cities.

  4. San Diego in the 20th century San Diego’s journey to becoming a world-class city came in waves and bursts, but it was the Second World War that propelled it to higher heights. San Diego Bay happens to be one of the best natural deepwater harbors in the world, and by the 1930s, San Diego had a strong naval presence. Furthermore, the city was also at the forefront of early aviation. It’s easy to see why, as the 1940s rolled in, San Diego and its military installations played an important role in national defense. Upon the conclusion of the war, San Diego branched out to explore other industries, most notably biotech, telecommunications, tuna fishing, and tourism. To this day, however, the Naval Base in San Diego remains the city’s top employer.

Today, San Diego is very much the heart and soul of the vast San Diego County. The city occupies over 370 sq. mi. of prime coastal land and is divided into 100 recognized neighborhoods. Over 1.3 million San Diegans live here, making San Diego the second most populous city in the state.

HOMES FOR SALE IN SAN DIEGO, CA

San Diego

Sought after and expensive are two of the things that describe San Diego real estate best. Local homes for sale have a median home value of over $880,000– high according to California and national standards. There is also a demand for homes in San Diego, as well as a housing supply that tries its best to keep up. Such conditions help maintain prices in the city high and competitive– a good environment for sellers who want to sell their house in San Diego fast.

Essential things to know about San Diego real estate

It’s big, but it can be bigger

San Diego’s real estate landscape is already large, but demand is much higher than the local supply. To date, there are over 500,000 residences scattered across the city. Two property types are particularly prevalent: single-family homes and apartment complexes, taking up 44% and 37% of the market, respectively. A very small percentage of San Diego real estate comprises townhomes and smaller multi-family dwellings.

From pre-war to the 21st century

If San Diego real estate is a time capsule, it would cover nearly a hundred years of history. The housing market has gems that date back to the 1930s– and older– as well as residences built in the 1940s and 1960s. Nearly half of the homes in San Diego, however, were built between the 1970s and 1990s. More recent construction– 2000s and newer– account for 16% of the market.

San Diego’s most expensive neighborhoods

Market trends change, but San Diego’s most expensive neighborhoods have remained mostly the same. These are the areas that command the highest home prices in the city:

  • Lower Hermosa
  • Upper Hermosa
  • Muirlands
  • La Jolla
  • La Jolla Farms
  • Hidden Valley
  • La Jolla Shores
  • Black Mountain Ranch
  • La Jolla Mesa
  • Bird Rock
  • The Village
  • Sunset Cliffs
  • Beach Barber Tract
  • La Jolla Heights
  • La Playa
  • Stonebridge Estates
  • Point Loma
  • Mission Beach
  • Carmel Valley
  • La Jolla Alta

Home prices in these aforementioned San Diego neighborhoods range from $1.5 million to over $20 million.

Consistent high appreciation rates

Over the past 10 years, San Diego residential real estate has appreciated by approximately 107% or an average of 7.56% annually. But while appreciation rates have slowed down over the recent years, San Diego remains one of the top appreciating markets in the nation. Even if they’re unable to sell their house fast, they still stand to make a profit as the market continues to favor sellers.

Some of the highest appreciating neighborhoods in San Diego include:

  • Mountain View is a community of multi-family dwellings, bungalows dating back to the 1920s, recently built townhomes, and cottages surrounded by palm trees. Average home values in Mountain View now hover around the mid $600,000s, while list prices can go up to $1 million.

  • Logan Heights is a historic neighborhood that’s also considered among San Diego’s oldest communities. Today, its local housing market consists of attached housing as well as single-family homes in various architectural styles (ex. Queen Anne and Mission Revival). Homes in Logan Heights have an average value of around $720,000, with most owners preferring to rent their properties instead of selling.

  • East Village, located next to downtown San Diego, has seen significant growth over the years. Once full of warehouses and undeveloped lots, the neighborhood is now brimming with luxury condos, lofts, and a small collection of Victorian single-family homes– the most prized of them all. The local average value is around $750,000, and list prices range from $500,000 to $1 million. Owners of single-family homes in East Village can sell their properties for over a million dollars, considering their rarity.

  • North Park and South Park real estate have changed dramatically over the years, with local average values typically over $1 million. North Park is the older of the two and also boasts a wider variety of real estate options. It’s common for condos here to start at the $500,000s, while single-family homes are often listed for $1 million or more. Down at South Park, vintage detached residences abound and average around $1.2 million in value. List prices range from the high $600,000s to over $1.5 million.

  • Midway District was a former naval training camp, but has since evolved into a desirable community that’s close to the San Diego International Airport. There is a wide variety of real estate options in the market, from condos and townhomes near Liberty Station to Spanish-style single-family homes. As far as numbers go, homes in Midway District have an average value of over $1 million.

When should you sell your San Diego home?

For those who want to sell their home in San Diego fast, spring and summer have always been the best seasons.

Buyers tend to come out of the holidays refreshed and ready to continue their personal homebuying journeys in the spring. Furthermore, the spring light can greatly enhance the appearance of a house and its outdoor living areas. The summer months, on the other hand, are ideal for homebuyers with school-aged children.

Unlike many places in the country, however, San Diego enjoys a lovely Mediterranean climate throughout the year. If your own personal readiness hints at a winter home sale, don’t delay your plans. Contact Vicki Inghram, your local real estate expert, for assistance in selling your San Diego home fast, in any season.

LIVING IN SAN DIEGO, CA

Incorporate the best things about living in San Diego into your overall marketing strategy to sell your house fast and for a great price.

Fantastic beaches & surf

  • California’s second largest city is renowned the world over for its coastline: 17-miles-long and lined with a string of oceanfront beaches, all of which serve as perfect launching points for an array of water recreational pursuits.

  • At Children’s Pool, scuba divers don’t need to swim far to reach the reef and see some of San Diego’s marine residents. The area is also a popular spot to view harbor seals and sea lions. Meanwhile, photography enthusiasts flock to small La Jolla Cove to try and capture the beach’s natural beauty. Swimming, snorkeling, and scuba diving are three other preferred activities here, especially in the summertime when the surf is calm.

  • For local surfers, sailboarders, and kite surfers, one of the best beaches in San Diego is the mile-long North Pacific Beach. Its surf is available all year round, but for those who want to catch the best waves, waking up and paddling early in the morning is recommended. Several surf schools have set up shop along North Pacific Beach for anyone who wishes to learn the sport.

  • And then there’s Mission Bay Park. Covering over 4,200 acres of territory, it’s easily the largest aquatic park in the nation. Visitors can access 19 beaches, 8 of which are designated swimming spots. You can explore the entire park on a bicycle– there are 14 miles of bike paths to explore– or go boating, with Mission Bay also offering boat docks and launches.

World-class attractions & activities

San Diego

Showcase your neighborhood’s desirability by highlighting attractions that are located near your property.

Places such as the Old Town San Diego State Historic Park, USS Midway Museum, and the Maritime Museum of San Diego might catch the attention of potential homebuyers who also love history. Old Town San Diego SHP is a living museum where visitors can see some of the oldest buildings in the city, dating back to the early 19th century. Meanwhile, both the USS Midway Museum and the Maritime Museum of San Diego are excellent places to learn more about San Diego’s naval history and heritage.

Another iconic San Diego landmark you might want to include in your listing is the 1,200-acre Balboa Park, one of the city’s centerpiece attractions. It was established in 1868 and is packed with activities, whether one is into arts and culture, nature, or entertainment. The San Diego Zoo, widely hailed as one of the best zoos in the world, is located within park grounds.

With outdoor recreation a top priority among homebuyers exploring San Diego real estate, don’t forget to mention local hiking trails, parks, and preserves. Access to the Torrey Pines State Natural Preserve, for instance, can be a great selling point for homes located in La Jolla and neighboring communities.

Outstanding educational opportunities

One of the biggest advantages of living in San Diego is the access to great schools and universities, both private and public. These include:

Furthermore, San Diego is the home of several top-rated colleges and universities, most notably the University of California, San Diego in La Jolla, San Diego State University in the College Area, and the NewSchool of Architecture and Design in East Village.

THE BEST WAY TO SELL REAL ESTATE…

… is to make buyers fall in love with your home and San Diego. It’s what I’ve learned, not just as a long-time San Diego and Coronado resident, but also as a multi-awarded and top producing Realtor.

I’m Vicki Inghram, a licensed Realtor with over 21 years of experience buying and selling homes on Coronado Island and San Diego. It would be an absolute pleasure to help you sell your San Diego house fast and to a buyer who will love it the way you did– perhaps even more.

You can start your home sale by getting a home valuation report. When you’re ready to take the next step, call me at 619.204.3400 or send me an email.




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