April 19, 2024
Home is on the market in San Carlos space. Photograph by Chris Stone

Realtor.com, the web site licensed by the Nationwide Affiliation of Realtors, expects San Diego to be the fourth strongest residential actual property market in 2024, with extra properties offered and better costs than this yr.

The forecast launched earlier this month predicts 11.0% extra properties can be offered in San Diego subsequent yr, with the median gross sales worth rising by 5.4%.

The rating was based mostly on every U.S. metropolitan space’s anticipated mixed development in dwelling costs and gross sales quantity and confirmed an uncommon sample.

“Inexpensive markets within the Northeast and Midwest are joined by Southern California markets anticipated to rebound from vital gross sales declines in 2023,” in response to the forecast.

Toledo, OH, ranked first with an anticipated 14% extra properties offered and the median worth rising by 8.3%. Ventura County was second and Rochester, NY, third.

Los Angeles ranked tenth, however the San Francisco Bay Space got here in at 66th, with each gross sales and costs anticipated to say no.

Tempering the excellent news for San Diego and different components of Southern California, Realtor.com warned that these markets “are nonetheless predicted to have traditionally low gross sales ranges regardless of giant enchancment over depressed 2023 numbers.”