San Diego's median home price reaches record high

SAN DIEGO (FOX 5/KUSI) -- The housing market in San Diego just became more expensive, according to recent data.

Data from CoreLogic released Tuesday showed all of the 20 major metropolitan markets in the U.S. showed increases in annual prices, with San Diego, Los Angeles, Washington, D.C. and New York reporting all-time highs.

According to CoreLogic, San Diego's home prices at all tiers (low and high) also increased the fastest over the course of the past year. In February, San Diego recorded its second month of double-digit annual price increases at 11.4%.

Experts said San Diego has been the "best performing market" since 2023, despite rising prices. San Diego had among the strongest monthly gains in the nation after Seattle at No. 1 and followed by San Francisco at No. 3. The home prices in Seattle and San Diego increased one percent faster in February than their pre-pandemic pace during the same month in 2019.

Separate data collected by Rocket Homes showed the median sold price in San Diego was over $905,000 in March, up 6.1% from the same time a year ago. It showed three bedroom homes saw the largest price increase, selling for nearly a million dollars in March -- 6% more compared to the previous year. The price of one bedroom homes did not change, averaging $485,000.

Prices in San Diego proper saw the highest growth. Homes sold for an average of $905,000 last month compared to about $854,000 in March of last year. Median home sales prices also rose in La Mesa, Lemon Grove and Santee, while La Jolla saw a 0.5% decrease.

Some good news for home buyers? The housing inventory appears to be on the upward trend.

The San Diego real estate market had 2,383 homes for sale last month, an 8% increase from the previous month's supply. Four bedroom homes for sale increased the most, up nearly 14% from February.

According to Rocket Homes, 238 homes were sold under asking price while 50% of all homes sold last month went for more than the attached price tag.