December 19, 2023
The Greater San Diego Association of Realtors released their monthly report showing that, overall, single-family resale home prices were down by 17% in November compared to October. Single-family home prices are up approximately two percent and condos, and townhome prices are up one percent.
Despite the decline in home sales, the report reveals that home prices have increased. This may seem counterintuitive, as a typical market trend might see an increase in demand leading to higher sales and potentially higher prices. However, in this case, it suggests a more complex market dynamic.
The Greater San Diego Association of Realtors provides specific details on the price changes. You may check out the full report highlighted in this month’s Policy Update newsletter.