San Diego County Real Estate Market Update - November 2024

November 2024 marked another eventful month for the San Diego County real estate market, with trends and figures that offer valuable insights for both buyers and sellers. Known for its vibrant communities and iconic coastal lifestyle, San Diego County continues to be a sought-after location for property investments.

New and Active Listings

This November, the market saw 1,991 new listings, ensuring fresh opportunities for buyers entering the market. While the influx of new properties was more modest compared to peak months, the market remained competitive and diverse. Meanwhile, active listings totaled 4,430, providing an array of options for those looking to purchase. This steady inventory demonstrates a degree of market stability, giving buyers more freedom to evaluate their choices.

Pending and Closed Sales

Pending sales landed at 1,709 for the month, underscoring consistent buyer interest and activity. Additionally, there were 1,721 closed sales in November, signaling a high conversion rate of buyer engagement into completed transactions. These numbers reflect a market that is active without being overly hurried, benefiting both parties in negotiations.

Closed Transaction Volume

November saw a closed transaction volume of $3,936,036,642. This impressive number speaks to the significant level of investment flowing through San Diego County’s real estate market. It highlights the enduring appeal of the region for homebuyers and investors seeking a valuable slice of coastal California.

Average Days on Market

Homes in San Diego County averaged 31 days on the market before being sold. This timeframe reflects balanced market conditions, with homes moving at a steady pace. Buyers have the opportunity to take a measured approach when evaluating options, while sellers can anticipate relatively quick closings once their properties are listed.

Median Sales Price

The median sales price in November 2024 rose slightly to $887,000. This figure reinforces the county’s position as a desirable and competitive market. For potential buyers, the price reflects a high-value investment in an area known for its lifestyle amenities and strong housing demand. Meanwhile, sellers can benefit from the continued upward trend in property values.

Market Implications and Insights

November’s data reflects a stable and thriving real estate market in San Diego County. For buyers, the combination of steady inventory and a manageable average days-on-market provides a window of opportunity to find their ideal home without overwhelming pressure. However, with the median sales price creeping upward, timing remains critical for locking in a good deal.

For sellers, the active buyer base and strong closed sales numbers demonstrate that demand is still robust, even as the year winds down. Setting a competitive listing price aligned with the market trends can help ensure a timely sale.

Looking forward, San Diego County’s real estate market continues to offer a dynamic landscape with opportunities for buyers, sellers, and investors alike. With the right strategies and market awareness, both sides can benefit from this balanced and vibrant real estate environment.

If you’re considering buying or selling in San Diego County, working with local real estate professionals who understand these trends is essential for navigating the market successfully. Whether you are looking for an investment property or your forever home, November’s numbers paint a picture of strong potential in one of California’s most desirable markets.