The August 2017 San Diego County Real Estate Report shows the same trends we’ve been watching for a while, strong price increases, fewer sales, and even fewer homes coming on the market. Although some have brought up the disturbing idea of a housing bubble, most experts don’t see a bubble in our near future.
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 July compared to the previous year. This combination of factors is helping home prices move up quickly. Countywide, we saw a 9.8 percent increase in the median price of a home compared to the previous July. In North County, that number climbed 11.4 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 11.4 percent in July 2017 compared to July 2016.
• Detached homes saw a median price increase of 11.9 percent in North County, moving from $630,000 in July 2016 to $705,000 in July 2017.
• The number of sold units in North San Diego County decreased 7.2 percent compared to the previous July. Pending sales rose 9.2 percent in the same period.
• Median days on market for North San Diego County properties was 28. This is a 9.7 percent decrease compared to the previous July.
• Inventory supply in North San Diego County dropped to 2.0 months from 2.9 months in July 2016.
Full County Summary
• The median price for all San Diego County home sales in July 2017 was $548,000. This is a 9.8 percent increase compared to July 2016.
• Detached homes saw a median price increase of 10.7 percent in San Diego County, moving from $560,000 in July 2016 to $620,000 in July 2017.
• Attached homes in San Diego County had a 6.7 percent median price increase compared to the previous year. They moved up to $405,000 in July 2017.
• Inventory supply countywide dropped to 1.9 months in July 2017 compared to 2.6 months a year earlier.