Are you thinking about selling your home in San Diego? Now is an excellent time for homeowners in North Park, South Park, and the metro neighborhoods who’ve been waiting for the right moment to list their property. Home values in these sought-after areas have seen significant appreciation, often surpassing the peak prices from the mid-2000s. With strong demand and limited inventory in these neighborhoods, sellers are in a prime position to attract competitive offers.
Interest Rates Are Going Up
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Median Home Prices
Below is an active live chart showing the median prices in North Park over the last 13 years. You can see that our home prices are higher than in 2007, which was right before the 2008 decline.
Based on available data, here’s a summary of median home prices in North Park, San Diego, from 2004 to 2017:
| Year | Median Home Price |
|---|---|
| 2004 | $577,041 |
| 2005 | $603,679 |
| 2006 | $585,974 |
| 2007 | $495,497 |
| 2008 | $346,597 |
| 2009 | $382,226 |
| 2010 | $375,790 |
| 2011 | $359,930 |
| 2012 | $418,290 |
| 2013 | $479,690 |
| 2014 | $494,500 |
| 2015 | $530,000 |
| 2016 | $568,000 |
| 2017 | $605,000 |
Note: These figures represent median home prices for San Diego County, as specific data for North Park isn’t readily available.
In 2007, just before the 2008 housing downturn, the median home price in San Diego County was $495,497. Fast-forward to today, and median home prices have soared well beyond the $600,000 mark seen in 2017, with many areas surpassing $900,000 or more, depending on location and property type. This upward trend reflects the strong demand and limited supply that continues to define the San Diego real estate market.
Currently, we’re still in a seller’s market, meaning there are fewer than six months of inventory available. In contrast, a buyer’s market occurs when there are more than seven months of inventory. For example, if no new homes were added to the market, it would take over seven months to sell all existing listings in a buyer’s market. That’s far from the reality here in San Diego. In neighborhoods like North Park, South Park, and other metro areas, we’re seeing closer to 1.5 to 2 months of inventory, keeping competition high and giving sellers a clear advantage.
Thinking of Selling Your Home?
Are you a homeowner in North Park, South Park, or any other metro neighborhood in San Diego? Are you thinking of selling your home? If so, contact the McT Real Estate Group right now. We will find out your specific goals and together devise a strategic plan of action to ensure you receive the absolute highest dollar amount for your home.