Which cities are people leaving San Diego for?
SAN DIEGO (FOX 5/KUSI) — As the San Diego housing market continues to become more and more competitive, younger potential homebuyers are finding it harder to afford a home in the area and instead turning to smaller metropolitan cities or locations with a better home price-to-income ratio.
According to Redfin, the median sales price in San Diego as of April was $970,000, up almost 10% from last year. The median price was just over $930,000 in March, dipping slightly and showing a sign of hope for potential homebuyers. It was $940,000 the month before.
RELATED: Most people moving to San Diego are from these 5 cities, according to Redfin
Redfin also listed the top cities where San Diegans searched for homes between February and April.
These cities included Las Vegas, Nev. at No. 1, Phoenix, Ariz. at No. 2 and Nashville, Tenn. at No. 3. Boise, Idaho and Portland, Ore. rounded out the top five places San Diegans are interested in moving to.
The median sales price for homes in all of the top five cities were under or slightly above $500,000 in April, according to Redfin, making them more affordable choices for people who have been waiting to buy a home in the San Diego market.
The data from Redfin does not reflect actual moves but rather a sample of about two million users who searched for homes across more than a hundred metropolitan areas.
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