Homeowners in San Diego are the least likely sellers in the country to lose money if they put their house on the market, according to a new study.
The study, which was conducted by the real estate company Redfin, analyzed real estate data from 50 of the most populous metro areas in the U.S. to get a sense of current market trends.
San Diego had the lowest share of homes sold at a loss — only 1.1%, the study found — over a three-month period that ended in July 2023. Nationwide, the share of homes sold for less money than they were purchased was around 3%.
San Diego is one of the most competitive and expensive real estate markets in the country, according to Redfin, with most homes selling within 12 days of their listing this year.
This year so far, over 5,500 homes have been sold in the San Diego metro area. The average sale for these homes comes in around $901,000 — up 3% from last year — and more than half are sold above asking price.