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2022 Market Summary

San diego, California started 2022 with a total of 208 single-family homes on the market, with a median home price of $1,080,000 and an average price per square foot of $754. By the end of the year, inventory had increased to 503 homes on the market (+141%), with a median home price of $1,149,888 (+6%) and an average price per square foot of $740 (-1%).

At the start of 2022, the median days on market (DOM) was 21 days – by the end of the year, median DOM had increased to 63 days.

San diego started the year with 17% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 45% of San diego homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that San diego started 2022 as a strong seller’s market, with an MAI score of 64; by the end of the year, the MAI had dropped to 48 – a strong seller’s advantage.

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