SAN DIEGO – San Diego County’s median price for a single-family home reached $1 million in April, a milestone in the region’s already sizzling real estate market, a new report shows.
That price represents a 2.5% uptick from March and a nearly 20% increase from the same time last year for detached single-family homes, according to data compiled by the San Diego Multiple Listing Service for the Greater San Diego Association of Realtors. For attached properties such as condos and townhomes, the median price also rose to $660,500, about 25% higher than April 2021.
In a statement, SDAR President Chris Anderson said the home value increases “highlight the importance of homeownership for families seeking to build equity and achieve financial stability.”
“Owning a home continues to be one of the best ways to build generational wealth and especially to create better opportunities for underserved communities,” Anderson said. “To give more families the opportunity to own a home here in San Diego, we need to offer greater assistance to homebuyers and confront our housing supply crisis, including more development on county lands.”
Of the total single-family home sales in April, 70 were sold in Fallbrook, 56 were in Oceanside North and 53 were in Santee. Additionally, 47 were sold in Oceanside East and 44 were in Escondido North.
Anderson said that most of last month’s home sales came from North and East County, demonstrating that residents are searching for “supply and affordability.”
“It is vital that we make better use of our county land in order to develop the housing necessary to keep families from moving further and further out,” he said.
Supply continues to be at least part of the issue in some areas. Data shared by the organization shows resale homes on the market in April were down 23% compared to last year. Also trending downward were the sales of previously owned single-family homes, 3% lower than in March, and condos and townhomes, which were down 8% from the previous month.
Also of note: The most expensive home sold in April was a more than 6-acre property in Rancho Santa Fe for $16.5 million, the report shows. That estate has seven bedrooms, 12 bathrooms, two guest houses and courts to play volleyball, tennis and basketball, among other features.
Click or tap here to read more from April’s real estate report.