San Diego Auction Houses See 9-Point Clearance Rate Jump in Month

Clearance rates at San Diego property auctions climbed from 61 percent in the first week of June to 70 percent by July 10.

The shift comes as mortgage rates eased slightly below 6.4 percent and inventory remained tight in coastal zip codes, pushing more sellers to test the auction format rather than list through traditional channels. Local agents say the pattern mirrors conditions seen in 2023 when rates first spiked and auction volume jumped 18 percent year over year.

Neighborhood Results

In Hillcrest, nine of twelve homes offered at a July 3 auction on University Avenue cleared the reserve, including a 1928 bungalow that sold for $1.35 million. Pacific Beach saw similar movement, with four of five lots on Garnet Avenue finding buyers after the Greater San Diego Association of Realtors reported 142 registered bidders at its June 28 preview session. Those two neighborhoods alone accounted for 23 percent of all auction activity tracked last month.

Price and Volume Data

County records show the median auction price reached $1.18 million in June, up from $1.09 million in May. The San Diego County Assessor’s office logged 47 auction transactions between June 1 and July 10, compared with 39 in the same span last year. One Point Loma four-bedroom sold for $2.4 million on June 19 after 11 registered bids, the highest single result in the period.

Buyers who missed the June cycle can register now for the next scheduled auction on July 24 at the U.S. Grant Hotel. Agents recommend reviewing the county’s online lien database first and securing pre-approval letters that cover at least 20 percent above the published reserve to stay competitive on the day.