SAN DIEGO — In a positive development for San Diegans and potential homebuyers, San Diego County saw a significant increase in home sales in February with Fallbrook standing out as a notable leader, based on data from the Greater San Diego Association of Relators.
"This month, we're happy to report an increase in sales, both in month over month, and then year over year from last February as well, which is very exciting because we've had such a few months of down market and lower sales, and so to see increase in sales start to go up, and it's been exciting for us," said President of the Greater San Diego Association of Realtors Spencer Lugash.
Why Fallbrook?
"I think it's amazing! First of all that people have found us; we're a hidden gem. And it looks like we're now on the map," said Lila Hargrove, CEO of Fallbrook Chamber of Commerce.
"We are rural and known as the friendly village. You can get land with fruit trees. You can also have, you know, grow vegetables, and have animals here. There are horse properties, goats, llamas, chickens, you name it!" said Hargrove.
Data shows Fallbrook was followed by North Escondido and Oceanside. Thirty homes sold in both areas last month.
Other places on top of the list are as follows
- 92021 (El Cajon) with 27 homes sold in February 2024
- 92064 (Poway) and 92068 (Ramona), both with 25 homes sold in February 2024
- 92977 (Spring Valley) with 23 homes sold in February 2024
San Diego County home prices
In February, the median price of single-family homes in the county surged to slightly above $1 million, marking a nearly 7% increase from January and a more than 16% rise compared to the previous year.
As seen on luxuryhomes.com, the most expensive home sold in San Diego County last month was a beautiful estate in Coronado with a hefty price tag of $28 million.
After a slow run, local realtors say it's now a promising time for San Diego homebuyers.
"Frankly, it's been a little bit difficult in the past year for homebuyers to get in due to the higher interest rates due to the lack of inventory. So, to see some of those numbers start to turn around is is encouraging for all of our San Diego homebuyers," said Lugash.
WATCH RELATED: San Diego home prices rising 2nd fastest in America (Nov. 30, 2023)