The July 2017 San Diego County Real Estate Report shows that, unlike some parts of the country, the San Diego County real estate market has not slowed down. In fact, year-over median sales prices increased countywide by 11 percent in June. The number of closed sales has dropped, but this is due to a continued lack of inventory.
San Diego County’s housing market has recovered with the median sales price exceeding 2005’s high in May this year. If you’re a homeowner, that’s wonderful news. It you are looking to buy, it’s not as scary as it sounds because when you adjust for inflation, we are still well below pre-recession highs. Only about one-third of the country has seen this recovery.
Real Estate Report
Both North County and San Diego County as a whole saw a decrease in new listings and an increase in pending sales in June compared to the previous year. This combination of factors helped pushed median prices up. It also shrunk the supply of inventory and how long that inventory remained on the market. This is great news if you are looking to sell, but adds more hurdles for buyers.
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 10.8 percent in June 2017 compared to June 2016.
• Detached homes saw a median price increase of 7.7 percent in North County, moving from $650,000 in June 2016 to $700,000 in June 2017.
• The number of sold units in North San Diego County decreased 5.9 percent compared to the previous June. Pending sales rose 6.6 percent in the same period.
• Median days on market for North San Diego County properties was 26. This is a 13.3 percent decrease compared to the previous June.
• Inventory supply in North San Diego County dropped to 2.1 months from 2.8 months in June 2016.
Full County Summary
• The median price for all San Diego County home sales in June 2017 was $555,000. This is an 11.0 percent increase compared to June 2016.
• Detached homes saw a median price increase of 10.1 percent in San Diego County, moving from $563,000 in June 2016 to $619,900 in June 2017.
• Attached homes in San Diego County had a 10.1 percent median price increase compared to the previous year. They moved up to $415,000 in June 2017.
• Inventory supply countywide dropped to 1.8 months in June 2017 compared to 2.5 months a year earlier.