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Dozens of San Diego-Area Homes Sold for Far More Than List Price – Some Even by $1M

A newly sold home in Encinitas. REUTERS/Mike Blake

The number of homes selling for huge sums over list price has risen rapidly since the start of the year – and San Diego is part of the trend.

A recent Zillow.com analysis found that nationally, in the second quarter, 2,244 houses sold for $500,000 or more over their original list price. That’s more than twice the number in the first quarter of 2021.

Those selling for $1 million over list were up 60% over the prior quarter. The share that sold for 30% or more over list rose from 1.1% to 1.7%. 

In San Diego:

  • Six houses sold for $1 million or more over the initial list price, compared to four in the first quarter;
  • 31 houses sold for $500,000 or more over the original list price, compared to 16 in the first quarter, and
  • 0.8% of homes sold for 30% or more above the first list price, compared to 0.5% in the first quarter.

San Francisco leads the 50 largest U.S. metros in the share of homes sold for 30% over their list price or higher at 7.5%.