San Diego Single-Family Home Sales Drop 17 Percent While Median Prices Rise

SAN DIEGO—Single-family resale home sales fell by more than 17 percent in November, compared to October, data released Monday by the San Diego Association of Realtors revealed. Additionally, sales of attached properties such as condominiums and townhomes were nearly 15 percent lower than the previous month. Total sales were about 14 percent lower than November 2022. Homes were spending an average of 28 days on the market in November prior to close of escrow, according to an SDAR release. Even with slowing sales, the median price of single-family homes increased by 2 percent in November to $980,000, more than 11 percent higher than a year ago. The condo and townhome median price was $667,500, slightly more than a 1 percent increase over October, and 11 percent over November of last year....