The May 2017 San Diego County Real Estate Report shows continued gains, despite the ongoing supply shortage and slowly increasing mortgage rates. Those rising interest rates paired with increasing values are making San Diego County homes less affordable. Trump’s proposed tax plan could decrease affordability even more by removing important deductions for homeowners.
Real Estate Report
Low inventory, fewer new listings, and healthy price increases are keeping the number of closed sales low compared to last April. But April still saw an upturn in the number of homes going under contract compared to the same month in 2016. The year-over median price in North County jumped by 9.7 percent. San Diego County’s median price rose by 6.4 percent.
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 9.7 percent in April 2017 compared to April 2016.
• Detached homes saw a median price increase of 6.4 percent in North County, moving from $630,000 in April 2016 to $670,500 in April 2017.
• The number of sold units in North San Diego County decreased 9.8 percent compared to the previous April. Pending sales rose 0.9 percent in the same period.
• Median days on market for North San Diego County properties was 28. This is a 12.5 percent decrease compared to the previous April.
• Inventory supply in North San Diego County dropped to 1.8 months from 2.5 months in April 2016.
Full County Summary
• The median price for all San Diego County home sales in April 2017 was $531,000. This is a 6.4 percent increase compared to April 2016.
• Detached homes saw a median price increase of 7.0 percent in San Diego County, moving from $560,000 in April 2016 to $599,350 in April 2017.
• Attached homes in San Diego County had a 6.9 percent median price increase compared to the previous year. They moved up to $385,000 in April 2017.
• Inventory supply countywide dropped to 1.7 months in April 2017 compared to 2.4 months a year earlier.