In November, San Diego County home sales decreased while prices marginally increased

SAN DIEGO — A survey claims that this month saw a decrease in home sales in San Diego County and an increase in pricing.

The San Diego Multiple Listing Service (SDMLS) is a source of data for the Greater San Diego Association of REALTORS® (SDAR), which released a research on Monday indicating that sales of single-family resale homes decreased by almost 17% in November over October. Single-family home median prices increased by 2% to $980,000.

According to SDAR President Frank Powell, “dropping home sales as we approach the December holiday season is a very typical phenomenon in a yearly housing market cycle.” There will be a predicted demand shortage as families start to spend more on presents and travel as property buyers and sellers are busier and more stressed for cash. We continue to encourage buyers and sellers to be diligent and keep searching for an opportunity to build generational family wealth through the purchase of a home, even as the Fed considers cutting interest rates through 2024.

According to the report, Fallbrook (zip code: 92028) had the highest number of single-family home sales in November with 34. Clairemont (zip code: 92117) came in second with 31, Oceanside North (zip code: 92057) had 26 sales, and Oceanside East (zip code: 92056) had 23. Poway (zip code 92064) and Mira Mesa (zip code 92126), with a combined total of 22 single-family home sales, rounded out the list.

According to SDAR, a recently constructed residence in Rancho Sante Fe on Linea Del Cielo, which sold for $23.5 million, was the most expensive single-family home in San Diego County.

According to the report, properties this month were on the market for an average of 28 days before escrow closed.

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