Now that the election is finally over, what will Trump’s presidency mean to San Diego County real estate? No one really knows, but The San Diego Union-Tribune published an interesting article today citing higher mortgage interest rates and possible regulation cuts.
Real Estate Report
The median sales price in October rose 12.8 percent in North County and 12.6 percent in San Diego County compared to the previous year. San Diego ranked number six nationwide in “The Hottest U.S. Real Estate Markets for October 2016” on realtor.com®. We are still dealing with very low inventory. Countywide we only had 2.1 months’ supply in October. This is continuing to keep pressure on San Diego County housing prices.
See below for this month’s statistics and daily interest rate updates.
Click on the links below 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 increased 12.8 percent in October 2016 compared to October 2015.
• Detached homes saw a median price increase of 11.1 percent in North County, moving from $585,000 in October 2015 to $650,000 in October 2016.
• The number of sold units in North San Diego County increased 5.2 percent compared to the previous October. Pending sales rose 10.5 percent in the same period.
• Median days on market for North San Diego County properties was 36. This is a 14.3 percent decrease compared to the previous October.
• Inventory supply in North San Diego County dropped to 2.2 months from 2.7 months in October 2015.
Full County Summary
• The median price for all San Diego County home sales in October 2016 was $518,000. This is a 12.6 percent increase compared to October 2015.
• Detached homes saw a median price increase of 11.5 percent in San Diego County, moving from $520,000 in October 2015 to $580,000 in October 2016.
• Attached homes in San Diego County had an 8.7 percent median price increase compared to the previous year. They moved up to $380,500 in October 2016.
• Inventory supply countywide dropped to 2.1 months’ in October 2016 compared to 2.6 months’ a year earlier.