San Diego's real estate market is currently hot with low inventory and high demand. The median home price of $250,000 represents a substantial 495.2% increase from this time last year. With only 1 active listings, inventory is 83% lower than typical for this time of year. Homes are now taking an average of 248 days to sell, significantly longer than the 40 days typical for this market. A significant 100.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the San Diego market with the affordability index at 481.2. Based on current market indicators, home prices in San Diego are projected to decrease by approximately 27.0% over the next month.
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