In a startling revelation, the median price of a single-family home in San Diego County crossed the $1 million mark in August 2023, according to the Greater San Diego Association of REALTORS® (SDAR). This figure is a 3.4 percent increase over the previous month and an impressive 13.5 percent increase compared to August 2022, despite recording some of the slowest home sale numbers in recent history.

Further, attached properties, such as condominiums and townhomes, set a new high-price record at $677,000, almost 9 percent higher than last year. The prices of these properties also jumped nearly 6 percent compared to July 2023's pricing.

However, sales of both single-family and attached homes in August were down by 19 percent compared to last year—an alarming slump in numbers attributed to high interest rates and a severe lack of inventory. The number of active properties on the market in August dipped by 5 percent from July, resulting in resale homes remaining on the market for an average of one month.

Among San Diego County's zip codes, the areas with the highest single-family home sales in August involved Fallbrook, with 53 sales, followed by Santee and Encinitas, and other regions including Oceanside North, the Encanto neighborhood of San Diego, Escondido North, and Vista East, as detailed in SDAR's housing statistics.

In an interesting highlight, the most expensive single-family property sold in August in San Diego County was Crescent House, a futuristic masterpiece designed by Wallace E. Cunningham, featured in HBO's "Westworld." Situated on Neptune Avenue in Encinitas, the oceanfront property spans over 6,300 square feet, boasts 5 bedrooms, 6 bathrooms, and sold on August 19 for an astounding $16.25 million, according to KPBS.