June Dwelling Gross sales Cool Down, Whereas Costs Stay Sturdy

Regardless of temperatures heating up, San Diego house gross sales cooled down in June, in comparison with Could, in line with the Better San Diego Affiliation of REALTORS which compiles knowledge on the present house sale market by means of the San Diego A number of Itemizing Service.

Single-family and hooked up house resales have been down about 10 p.c month-over-month in June, and are down about 26% in comparison with June of 2022, as fluctuating mortgage charges and a close to all-time low degree of stock proceed to affect gross sales.

The median worth of single-family houses within the county rose to $1 million in June, for less than the second time in historical past. That’s a rise of practically 5 p.c from Could. The hooked up median worth (for condominiums and townhomes) was $650,000, a 2 p.c improve month-over-month. In comparison with the identical month a 12 months in the past, all resale house costs in June have been 2 p.c increased.

“San Diego County remains to be seeing comparatively sluggish market development compared to the remainder of the nation,” famous SDAR President Frank Powell. “Nationally, we’re excited concerning the near-historic common house costs, and the appreciation of house costs displays the significance of households to have the power to construct generational wealth. Due to this, we’ll proceed to induce the California legislature to assist homeownership initiatives, such because the ‘California Dream for All’ program, and press for the discount of regulatory constructing prices to permit extra San Diegans to enter the home-buying market.”

In June, the zip codes in San Diego County with essentially the most single-family house gross sales have been:

• 92028 (Fallbrook) with 46
• 92065 (Ramona) and 92127 (Rancho Bernardo West), each with 35
• 92026 (Escondido North) with 34
• 92057 (Oceanside North) with 33
• 92056 (Oceanside East) with 32

The most costly single-family property offered in June in San Diego County was a 1,700-square-foot up to date seaside home on Ocean Entrance in Del Mar. Accomplished in 2019, the 3-bedroom, 3-bath house has an oceanfront patio and balcony and an enormous rooftop residing/eating room. The property offered on June 14 for $13.5 million.

SDAR’s housing statistics are compiled month-to-month from the A number of Itemizing Service. Click on right here for a detailed take a look at the numbers. The next is a abstract of the most recent outcomes:

TOTAL SOLD LISTINGS Evaluating June 2023 to Could 2023 (month over month)

Single-Household: 10.6 p.c DECREASE

June 2023 = 1,252

Could 2023 = 1,400

Condos/Townhomes:  9.2 p.c DECREASE

June 2023 = 725

Could 2023 = 798

TOTAL SOLD LISTINGS Evaluating June 2023 to June 2022 (12 months over 12 months)