The price of a San Diego home crosses $1 million for the first time [View all]

San Diego home prices have hit a new, possibly inevitable, landmark.

The median price of a resale single-family home reached $1,001,500 in May, CoreLogic revealed this week, up from a revised $985,000 the previous month. It is a record high for San Diego County, joining only one other Southern California market, Orange County, in having prices top the $1 million mark.

San Diego County’s overall median, which includes newly built homes, resale homes and condos, also reached a new high in May of $898,000, up 10.9 percent in a year. Experts say the single-family milestone was unavoidable with limited homes for sale and strong competition for whatever is out there.

“It was inevitable,” said Mark Goldman, a San Diego loan officer and real estate analyst, about the $1 million mark, “and it will surpass that.”

https://www.sandiegouniontribune.com/2024/07/03/the-price-of-a-san-diego-home-crosses-1-million-for-the-first-time/