Interest rates continued to increase, but the San Diego County and North County markets didn’t seem to care. San Diego edged up to number five on the hottest U.S. markets list from realtor.com® last month.
Real Estate Report
December was a busy month for North County and San Diego County as a whole. Although closed sales dropped compared to the previous year, the number of pending sales (homes that went under contract) increased by double digits in both North County and San Diego County. Added to this was a significant decrease in the number of new listings. This created the lowest available housing supply we’ve seen since 2004!
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 5.7 percent in December 2016 compared to December 2015.
• Detached homes saw a median price increase of 3.1 percent in North County, moving from $610,950 in December 2015 to $630,000 in December 2016.
• The number of sold units in North San Diego County decreased 11.2 percent compared to the previous December. Pending sales rose 14.4 percent in the same period.
• Median days on market for North San Diego County properties was 44. This is a 7.3 percent increase compared to the previous December.
• Inventory supply in North San Diego County dropped to 1.5 months from 2.1 months in December 2015.
Full County Summary
• The median price for all San Diego County home sales in December 2016 was $508,000. This is a 8.1 percent increase compared to December 2015.
• Detached homes saw a median price increase of 7.6 percent in San Diego County, moving from $532,000 in December 2015 to $572,190 in December 2016.
• Attached homes in San Diego County had an 4.3 percent median price increase compared to the previous year. They moved up to $367,000 in December 2016.
• Inventory supply countywide dropped to 1.5 months’ in December 2016 compared to 2.0 months’ a year earlier.