The median price of a single-family home sold in August in San Diego County was $1.025 million, pushing the price past the $1 million mark for the first time ever, a spokesperson for the SDAR said.
and again in June 2023. But this is the first time the median single household price has actuallythe million-buck mark, SDAR's data from the San Diego Multiple Listing Service shows. The SDAR adds that the median price for condos and townhomes is also at a record high of $677,000.in July that found more than half of listed homes in San Diego County were priced over the $1-million-mark. Even with the high listing prices, at the time, the median home sale price was at $910,000.
When compared to the year prior, the price of homes for August is up about 13.5% for single-family and nearly 9% for attached homes, according to the SDAR data. Home sales, though, are at one of the slowest paces in recent history; There were nearly 1,300 single-family homes sold in August and 751 condos or townhomes, both of which are down about 19% from the previous year.
SDAR said the slow-down can be attributed to high interest rates and a lack of inventory; the demand is what's keeping home selling prices high.
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