Single-family resale home sales fell by more than 17 percent in November, compared to October, according to data released Monday by the San Diego Association of Realtors. Total sales were approximately 14 percent lower than November of 2022. You would think that would result in lower prices but that is not the case. Even with slowing sales, the median price of a single-family home increased by 2 percent in November to $980,000, more than 11 percent higher than a year ago. The condo and townhome median price was $667,500, slightly more than a 1 percent increase over October, and 11 percent over November of last year. This is all due to a shortage of inventory. Yes, I keep saying this but it continues to be true. If you are thinking about selling dive in while prices are up. For more information on the current data read this 7 San Diego article.
SB-9 Still Floating Around on Housing Density