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San Diego Home Prices Continue To Rise!

May 12, 2022

San Diego Home Prices Continue To Rise!

Home prices in San Diego remained strong at the end of 2012, mirroring a trend that is happening in other major U.S. metro areas. While San Francisco and Phoenix experienced the highest increases in price (14.4% and 23%, respectively), the price of a San Diego home in December rose 9% from the same time a year ago, based on a S&P/Case-Shiller home price report. Further, local values have continued to rise over 11 consecutive months. For San Diego, the rising sales and a smaller inventory of available homes for sale are most likely the cause of this uptick. In fact, inventory in the region is near a 52-month low, with only about 4,200 active home listings in the county (San Diego Association of Realtors). Local real estate tracker DataQuick claims that the median price for a San Diego home sold in January 2013 was $350,000, which is nearly 15% higher than a year ago. Although the county is still about 32% below its peak of $517,500 (set in November 2005). Only time will tell whether this is a temporary increase due to low inventory. See Guy's 'March Tide' for more information regarding the state of the local market.

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Whether looking to buy or sell across the California coastline, The Guy Bahringer Group is your key to success.