Zillow San Diego Home Prices (2024)

FAQs

How accurate are Zillow values? ›

Median Error. For most major markets, the Zestimate for on-market homes is within 10% of the final sale price more than 95% of the time. The nationwide median error rate for the Zestimate for on-market homes means that half of all on-market homes are within the median error vs. the selling price, and half are not.

The median price of an existing single-family home in San Diego County in December was $911,500, down from $952,000 in November but higher than the $850,000 in December 2022.

There are several reasons why Zillow's Zestimate may be inaccurate. For one, the feature relies heavily on publicly available data, such as property tax records and past sales data. This means that it may not take into account certain factors, such as renovations or additions to a home, that could affect its value.

According to a recent study by Zillow, people looking to buy a home in San Diego need to have an income of at least $273,613. A monthly mortgage payment in San Diego is approximately $5,757 with a 10% down payment.

A Zestimate is only as accurate as the information Zillow has to base it on. Plus, it depends on what you're comparing it to for accuracy. No home valuation is perfect. Zestimates are meant to be used only as a ballpark view of value, not as an appraisal.

Zillow: Redfin is more accurate when valuing homes. Both Zillow and Redfin give homes an approximate value, but the Zestimate provided by Zillow has proven slightly less accurate than Redfin's estimate. Final numbers depend significantly on the local market and demand for a property in your particular location.

In a hot, seller-friendly market, Zillow Zestimates are likelier to be lower than appraisal values. Demand drives rapid home price growth that outpaces Zestimates. In cooling markets where demand slows, Zestimates tend to overshoot appraisals since they rely heavily on past sales that reflect formerly hotter markets.

Non-disclosure state — Your home is in a “non-disclosure” state (Idaho, Indiana, Kansas, Louisiana, Mississippi, Montana, New Mexico, Texas, Utah, and Wyoming) where transactions are not publicly reported and therefore, we do not have enough data to create a Zestimate.

A Zillow study revealed the median income should be $273,613 annually to comfortably afford a typical home in San Diego. Another study showed it could take a couple more than a decade to save for a down payment on a home and up to five decades for single people.

Can I live in San Diego on 70K a year? ›

If you come into town with a big chunk of change and can buy a house outright or put enough down to reduce your mortgage to a small number then you can live very well in San Diego on $70K. A large segment of our higher cost of living is housing.

San Diego is among seven major metro markets where a household's income must exceed $200,000 to comfortably afford a typical home, according to new research. The top four are in California, Zillow found: San Jose ($454,296), San Francisco ($339,864), Los Angeles ($279,250) and San Diego ($273,613).

If you're unsatisfied with your Zillow Zestimate, you won't be able to change it directly. But you can influence your Zestimate by updating information about your home, fixing incorrect information, and adding rich details to make sure your home's profile is complete.

Zillow: Redfin is more accurate when valuing homes. Both Zillow and Redfin give homes an approximate value, but the Zestimate provided by Zillow has proven slightly less accurate than Redfin's estimate. Final numbers depend significantly on the local market and demand for a property in your particular location.

How Accurate Are Trulia Estimates? Trulia Estimates are identical to Zillow Zestimates because both websites use the same data. The only difference is that Zillow Zestimates show both on-market and off-market properties, but Trulia only shows off-market estimates.

Zillow may adjust your home value estimate according to the market. In general, homes are worth more during a seller's market than during a buyer's market. If you checked your Zestimate during a hot seller's market, then checked it again when the market turned cool, your home value may have taken a hit.