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KPBS Midday Edition

Median San Diego Home Price Hits New Record: $750,000

A home is listed for sale in the San Carlos neighborhood of San Diego, April 3, 2021.
KPBS Staff
A home is listed for sale in the San Carlos neighborhood of San Diego, April 3, 2021.
An extremely low-inventory of homes for sale and low mortgage rates are two big factors driving prices up, but so is migration from buyers coming into San Diego from even higher-priced housing markets in California.

Bidding wars are breaking out among buyers as home prices in San Diego reach another record high. In June, the median price for a home in the county reached $750,000 – up about $150,000 from this time last year. That median price includes single-family homes and condos.

An extremely low-inventory of homes for sale and low mortgage rates are two big factors driving prices up, but so is migration from buyers moving to San Diego from even higher-priced housing markets in California.

The San Diego Union-Tribune reporter Mike Freeman joined Midday Edition on Wednesday to discuss the reasons for the continued price increases and what's expected going forward.