The San Diego County and North County real estate markets are still sizzling hot. But due to rising interest rates and low affordability, experts are predicting a slowdown in both value growth and home ownership rates. Clear Capital predicts appreciation in San Diego County to be a low as 0.9 percent in 2017.
Real Estate Report
January saw a large uptick both in pending sales and the median sales price compared to the previous year. That jump in pending sales was paired with a decrease in new listings, cutting our already tight supply of inventory to a meager 1.5 months. The median sales price for San Diego County as a whole increased by 7.4 percent. North County saw a year-over increase of 6.5 percent. If you’re thinking of selling, this is great news. If you’re looking to buy, it’s still not easy.
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 6.5 percent in January 2017 compared to January 2016.
• Detached homes saw a median price increase of 7.4 percent in North County, moving from $605,000 in January 2016 to $649,888 in January 2017.
• The number of sold units in North San Diego County increased 2.4 percent compared to the previous January. Pending sales rose 13.4 percent in the same period.
• Median days on market for North San Diego County properties was 41. This is an 8.9 percent decrease compared to the previous January.
• Inventory supply in North San Diego County dropped to 1.6 months from 2.1 months in January 2016.
Full County Summary
• The median price for all San Diego County home sales in January 2017 was $505,000. This is a 7.4 percent increase compared to January 2016.
• Detached homes saw a median price increase of 5.6 percent in San Diego County, moving from $530,000 in January 2016 to $559,500 in January 2017.
• Attached homes in San Diego County had an 7.8 percent median price increase compared to the previous year. They moved up to $378,750 in January 2017.
• Inventory supply countywide dropped to 1.5 months’ in January 2017 compared to 2.1 months’ a year earlier.