San Diego County housing prices remain steady, single-family home sales drop

San Diego County’s housing market witnessed a 14% decline in single-family home sales in September compared to August, while average home prices held steady at approximately $1 million, according to the latest data from the Greater San Diego Association of Realtors (SDAR).

Sales of condominiums, townhomes, and attached properties experienced an even greater decline, dropping 22% from August. These sales were also 5% lower compared to September 2023. Resale properties, on average, took 34 days to close escrow, up from 25 days a year ago, as SDAR reported on Wednesday.

While the median price for single-family homes held steady, the price for attached properties dropped by 4% last month, averaging $646,000. This price was slightly lower than in 2023, according to SDAR's figures. Overall, home prices in San Diego County were 5% higher than in September of last year, according to the SDAR.

“The inventory of homes on the market continues on a positive trend, and we’re still optimistic about the potential for lower interest rates,” said SDAR President Spencer Lugash. “We encourage buyers to recognize the opportunities in the current market and to connect with a realtor who has in-depth knowledge of their neighborhood.”

The top-selling ZIP codes in San Diego County last month were:

• Fallbrook: 38 homes sold
• Spring Valley: 32 homes sold
• Oceanside North: 31 homes sold
• Santee: 30 homes sold
• Ramona: 29 homes sold

SDAR also reported that the most expensive sale in September was an oceanfront home on Cuchara Drive in Del Mar. The 5,000-square-foot property, featuring five bedrooms and five bathrooms, sold for $15.5 million on September 19.