San Diego County real estate looked strong in January with 10.5 percent year over median price increases for North County and 7.5 percent increases countywide. Interest rates continue to remain below 4 percent for many types of loans.
Real Estate Report
San Diego was ranked number five on the list of realtor.com’s® 20 Hottest U.S. Real Estate Markets in January 2016. It doesn’t look like this is going to change in the near future. January saw increases in the number of pending sales compared to both the previous month and to January 2015.
Where’s the Inventory?
Although there were many new listings in January, inventory supply is still under two months in both North County and in San Diego County as a whole. Most experts say four to six months of supply is needed for a balanced market.
See below for today’s interest rates. Click on the links to read the full housing statistics reports.
- NORTH COUNTY MONTHLY INDICATORS
- METRO SAN DIEGO COUNTY MARKET UPDATE
- EAST SAN DIEGO COUNTY MARKET UPDATE
- SOUTH SAN DIEGO COUNTY MARKET UPDATE
- SAN DIEGO COUNTY MONTHLY INDICATORS
North County Summary
• The median price for all North County home sales, all property types, increased to $544,000 in January 2016, compared to $492,338 reported in January 2015.
• The median price for detached homes in North County was $608,500 in January 2016, up 7.5 percent from $566,000 in January 2015.
• The number of sold units in North San Diego County for January 2016 decreased 1.2 percent compared to the previous year, but pending sales rose and inventory decreased.
• The median days on market for North San Diego County properties decreased 18.5 percent compared to the previous January, but was slightly higher than in December.
• The supply of inventory for all properties in North San Diego County remained low with under two months’ supply.
Full County Summary
• The median price for all San Diego County home sales increased to $475,000 in January 2016, compared to $441,750 in January 2015.
• The median price for detached homes in San Diego County was $532,500 in January 2016, dropping slightly from December, but up 8.2 percent from January 2015.
• The median price for attached homes in San Diego County was $355,000 in January 2016, a 9.2 percent increase over January 2015.
• As in North County, the supply of inventory countywide dropped to below two months’ supply in January 2016 with only 1.9 months’ supply available.