The top five cities people are moving to San Diego from are Los Angeles, Raleigh North Carolina, San Francisco, Washington DC and Boston.
SAN DIEGO — According to housing market experts at Redfin, search history shows more and more people are moving into San Diego rather than out of it.
The latest real estate trends specifically show people from Los Angeles want to be here.
Can you blame them? It’s the best — and even though it’s pricey, it’s still slightly less expensive than Los Angeles. But it’s not just L.A. Redfin data shows two percent of homebuyers across the nation are looking to move to America’s Finest City.
“Affordability is the main reason why people relocate,” said Daryl Fairweather, Chief Economist at Redfin.
She says the great migration to San Diego shows people from across the country want sunshine and beaches. Redfin data shows more people are searching to come to San Diego than to leave it.
“When they do leave, they’re often moving somewhere more affordable like Portland, or Nashville, or Las Vegas,” she said.
Boise, Idaho, and Hilo, Hawaii, rounded out the top five places San Diegans are moving to.
In the last three months, 26% of San Diego homebuyers searched to leave, but 74% looked to stay.
“I think we could see a rebound in migration, with even more people wanting to move to San Diego once mortgage rates fall,” Fairweather said.
As for the top five cities moving to San Diego: Los Angeles came in first, followed by Raleigh, North Carolina; San Francisco; Washington, D.C.; and Boston.
“My hunch tells me it’s the job market for Raleigh. San Diego is a biomedical hub. Both places have warm winters, so that’s probably appealing as well,” Fairweather added.
San Diego may be warm, but it’s not cheap. The median home price here is $930,000. Los Angeles, though, is currently over a million. Redfin says homes in San Diego typically receive three offers and sell about one percent below the listing price in around 40 days — compared to 28 days last year.
“Los Angeles has so much sprawl, there aren’t as many areas left to build in, whereas in San Diego, I think you can find a bit more variety in terms of price point,” she said.
Our overall cost of living is 46% higher than the national average — but those on the move say our more relaxed lifestyle, outdoor activities, weather and strong job market are all worth it.
Fairweather also pointed to the pandemic and how it reshaped things, with more people being able to work from home and live wherever they want.