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San Diego no stranger to 7-digit home prices

Posted by The Aramco Group on Sun, Jun 5, 2016 @ 14:06 PM

Del Dios Ranch is a 210-acre property tucked in the ritzy Rancho Santa Fe community. It encompasses 8,500 square feet of liviing space and has a full orange grove on site. As of 2016, it is the most expensive home listed in San Diego County, ever. The price tag: $92,000,000.

Exorbitant home prices and luxury features are not foreign to San Diego. Often listed as one of the most desirable places to live, homes in Del Dios Ranch, La Jolla and Coronado often sell for millions. Forbes recently listed the County as the fifth least affordable place to live.

Nonetheless, home sales and demand, even for the high-end of the market, continue to climb. As interest rates remain near historic lows, experts predict potential buyers will continue to flock toward the coastal county. Today, conforming no-point 30-year fixed mortgage rates average 3.625 percent while the 15-year rate is near 2.875 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.