Are you curious about the San Diego real estate market? If so, then this blog post is for you. We have compiled a list of 20 statistics that provide an overview of the current state of the San Diego housing market.
From median home prices to average rent costs and more, these stats will give you insight into what's happening in one of California's most popular cities. Read on to learn more about how much homes cost in San Diego, rental trends, foreclosure rates and other important information related to buying or renting property in this vibrant city.
San Diego Real Estate Market Statistics Overview
The median household income in San Diego is $81,658.
This statistic is an important indicator of the financial health of San Diego households, providing insight into the purchasing power of potential home buyers in the area. It is also a useful metric for understanding the affordability of housing in the city, as it gives an indication of the median income level of San Diego residents. As such, it is a key factor in understanding the San Diego real estate market.
San Diego County has a population of 3,370,302 people.
The fact that San Diego County has a population of 3,370,302 people is an important factor to consider when discussing the San Diego Real Estate Market Statistics. This large population size indicates a high demand for housing, which can have a significant impact on the real estate market. Additionally, the population size can provide insight into the types of housing that are in demand, as well as the areas of the county that are most popular for potential buyers.
In 2021, the San Diego real estate market experienced a 2.9% growth in available house inventory.
The 2.9% growth in available house inventory in the San Diego real estate market in 2021 is a telling statistic that speaks volumes about the current state of the market. It indicates that the market is expanding, providing more opportunities for potential buyers to find the perfect home. This statistic is an important indicator of the health of the San Diego real estate market and provides valuable insight into the current trends in the market.
Mortgage rates in San Diego averaged 2.88% for a 30-year fixed-rate loan in September 2021.
The statistic of mortgage rates in San Diego averaging 2.88% for a 30-year fixed-rate loan in September 2021 is an important indicator of the San Diego real estate market. Low mortgage rates can make it easier for potential buyers to purchase a home, which can lead to an increase in the number of homes sold in the area. This can have a positive effect on the local economy, as more people are able to purchase homes and invest in the local housing market. Additionally, low mortgage rates can also lead to an increase in home values, which can benefit current homeowners in the area.
San Diego has a home price to income ratio of 8.3.
The home price to income ratio of 8.3 in San Diego is a telling statistic when it comes to the real estate market in the area. It indicates that the cost of housing in San Diego is significantly higher than the average income of its residents, making it difficult for many to purchase a home. This statistic is an important indicator of the affordability of the San Diego real estate market and can help potential buyers make informed decisions.
93% of properties in San Diego are single-family homes.
This statistic is a key indicator of the San Diego real estate market, as it reveals the overwhelming majority of properties in the area are single-family homes. This is important to note, as it provides insight into the types of properties available in the area, as well as the potential for growth in the market. Additionally, this statistic can be used to compare the San Diego real estate market to other markets, providing a better understanding of the overall market.
The San Diego housing market is expected to appreciate at 7.6% between 2021 and 2022.
This statistic is a key indicator of the San Diego real estate market's potential for growth in the coming year. It suggests that the market is likely to experience a significant appreciation in value, making it an attractive option for potential buyers and investors. With this in mind, it is important to consider this statistic when evaluating the San Diego real estate market and making decisions about investments in the area.
Approximately 1,109 homes are in foreclosure, default, or auction in San Diego County.
This statistic paints a stark picture of the current state of the San Diego real estate market. It shows that despite the overall positive outlook of the market, there are still a significant number of homeowners facing foreclosure, default, or auction. This is a reminder that the market is not immune to the struggles of individual homeowners, and that there is still work to be done to ensure that everyone has access to stable and secure housing.
The San Diego real estate market is a dynamic and ever-changing landscape. The median home price in September 2021 was $850,000, an 11.1% year-over-year increase in sales from August 2021. Rent for apartments averaged at $2,476 per month while the average cost per square foot of real estate was $677. 37.2% of residents are homeowners with a median household income of $81,658 and 3,822 total housing market supply as of August 2021 - down from 4,031 last year. In the first half of this year 59.5% homes sold above asking prices while new listings increased by 12%.
Mortgage rates were 2.88%, there were 830 foreclosure properties on record and 77 neighborhoods with varying listing prices ranging from 429k to 2 million 5 hundred thousand dollars respectively; one bedroom rents averaging at 2214$/monthly & two bedrooms 2886$. With all these factors taken into account it's clear that San Diego has become an attractive option for potential buyers looking to invest or settle down due to its strong economy and diverse range of options available across different budgets making it one destination worth considering when searching for your next property purchase or rental agreement.
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