America's Finest City? San Diego's Median Home Price Skyrockets

image
Jeff PowersJeff Powers
Published: 18 Apr, 2018
1 min read

A new report by the California Association of Realtors released Tuesday notes the median price of a home in San Diego County reached a record $625,400 in March.

The reason for the spike according to experts, a lack of inventory. A typical home is on the market only 13 days before being sold, compared to a statewide average of 23 days.

The news comes as the San Diego City Council’s Smart Growth and Land Use Committee is hosting a workshop Wednesday. Committee Chairwoman Georgette Gomez will lead the workshops, which will include discussions of methods to preserve existing affordable housing and strategies to prevent residential displacement. Gomez said, “Preserving our current affordable housing units in San Diego and ensuring San Diegans are not being priced out of their neighborhoods without adequate protections is extremely important.”

Recommendations also will be made to the Planning and San Diego Housing commissions regarding best practices to maintain rental housing stock for low-income families.

Realtors’ Senior Vice President and Chief Economist Leslie-Appleton-Young said,“Inventory still remains tight, which is driving home prices higher."

The median price was up 9.5 percent from a year ago, while the number of sales declined 10.4 percent. Steve White is the association President, he said, “Sales in the Southern California region have cooled for the past five months, even in the more affordable Riverside and San Bernardino areas."

The data is based on information collected by the association from more than 90 local Realtor groups and multiple listing services statewide.

You Might Also Like

Proposition 50 voter guide
California Prop 50: Partisan Power Play or Necessary Counterpunch?
November 4 marks a special election for what has become the most controversial ballot measure in California in recent memory: Proposition 50, which would circumvent congressional districts drawn by the state’s independent redistricting commission for a legislative-drawn map....
01 Oct, 2025
-
9 min read
court gavel.
Virtual Discussion: The Fight for Equal Independent Voting Rights Makes it to SCOTUS
Every major voting rights movement in U.S. history – whether successful or not – has intertwined with landmark litigation. This was the case for women’s suffrage. It was the case for civil rights. And it is the case in the ongoing effort to protect the right of all voters to have equal participation in taxpayer-funded elections – something millions of independent voters are denied across the U.S....
29 Sep, 2025
-
2 min read
Supreme Court building
SCOTUS Considers Challenge to Closed Primaries -- Here's Why It Is Such a Big Deal
In a dramatic step forward for litigation challenging closed primaries, the U.S. Supreme Court has indicated they are going to conference to discuss whether to grant a writ of certiorari to Polelle v. Florida Secretary of State; a case challenging Florida's closed primaries that Open Primaries has supported since its inception....
26 Sep, 2025
-
2 min read