June 2024 Newsletter

As we kick off the summer season in San Diego, we have some important updates on the current real estate market in the County: ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Here's to June - a time to embrace the beauty of nature, longer days, and warm evenings! Read on to explore our industry insights, latest listings, and tips for navigating the vibrant real estate landscape. 

San Diego Real Estate

As we kick off the summer season in San Diego, we have some important updates on the current real estate market in the County:

A positive change for homebuyers has occurred, distinguishing this year's housing market from the previous year. The inventory has seen a significant increase, with the active listing inventory of detached and attached homes available for sale in San Diego County growing from 2,376 homes at the beginning of the year to 3,672 homes today, marking a 55% rise, or 1,296 additional homes. However, it is still below the inventory levels before the pandemic, as the 3-year average before COVID (2017 to 2019) was 6,424 homes at the end of May, which is 75% higher, or 2,752 more homes for sale.

Demand, measured by the number of pending sales over the prior 30 days, totaled 1,933, only 1% lower than the prior period. Last year, demand was at 1,857, which was 4% less than today. To provide context, the 3-year average before COVID (2017 to 2019) was 3,564 pending sales, representing an 84% increase compared to today, or an additional 1,631 pending sales.

In April, there were 2,095 closed residential resales, indicating a 5% increase compared to March 2024. The sales-to-list price ratio was 100.1% for all of San Diego County. Foreclosures made up only 0.1% of all closed sales, and short sales accounted for 0.05% of all closed sales.

The median home price of a single-family detached home reached a new all-time high at $1,100,000, which is 4.8% higher than in March and 15.8% higher than in April 2023.

If you have any questions or would like to discuss how these trends may impact your real estate plans, please reach out to us! We'd love to hear from you.

I am thrilled to share that I successfully completed 28 miles along the Pacific Crest Trail in just 11 hours and 43 minutes, all to help our San Diego Make-A-Wish chapter raise over $835,000 and counting! This outstanding achievement will make a huge difference in granting well-deserved wishes to more than 80 kids in our community!

I am truly grateful for the opportunity to participate in this meaningful event for the 2nd year in a row, and I couldn’t have done it without your generous support and donations. From the bottom of my heart, thank you!

If you haven’t yet had the chance to donate, there’s still time to make a difference. Make A Wish is accepting donations through the end of June, and every contribution will help us reach our goal of raising $1,000,000 for San Diego and Imperial County kids. Your support means the world to me, and together, we can make a lasting impact on the lives of these children.

Thank you again for your kindness and generosity!

PENDING
Otay Mesa West

3 BD   2.5 BA   1300 SF   $799,000

2 BD   2 BA   1820 SF   $1,199,000
Represented Buyer

2932-2934 Dale Street

5 BD   4 BA   2594 SF   $2,400,000
Represented Seller

San Diego County Fair

We're going retro! It's that time of the year again, where the Del Mar Fairgrounds transform into a food lovers paradise, a thrill-junkies' playground, galleries of local artists, the world's best concert venue, and the most iconic event of the summer. Flash back to the grooviest of times, and get your disco on!

We know about the San Diego beaches, but venture beyond the break, and you have access to some of the best fishing in the nation! Treat the dads and parents in your life to an expedition on the open water for a chance to wrangle in big tuna, bass, catfish, carp, and plenty more from a variety of freshwater or saltwater charters.

jun 18 - aug 29 | 6:30-7:30

Balboa Park Twilight Concert Series

Whether your preferred genre is jazz, orchestra, garage rock, mariachi, or classic covers, Balboa Park will be rocking into the evening this summer! Besides the stunning surroundings of our world-famous park, free dance lessons will be offered at select performances. 

San Diego Beer Weekend

Sip local! Hosted by the San Diego Brewers Guild, a plethora of local breweries around the county are gearing up to bring in supporters of the craft for a "BEERCATION" right in your neighborhood. Find participating breweries and events using the link below.

Lifestyle Tips and Tricks

9 Locations where Housing Prices are Skyrocketing Post-Pandemic

It’s no secret that real estate prices have increased substantially in the past few years, with the pandemic era of the early 2020s seeing massive spikes in home prices nationwide.

Design Choices Sellers Might Want to Rethink

Social media causes a lot of hype, but trends change frequently and could hurt resales. Sellers are wise to play it safe with timeless simplicity. 

21 Plants to Add Instant Curb Appeal

Before you plant that "For Sale" sign in your yard, plant shrubs and flowers. to boost your curb appeal!

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.