The September 2017 San Diego County Real Estate Report continues to indicate strong price increases, fewer sales, and even fewer homes coming on the market. The real estate news magazine first tuesday Journal predicts that once San Diego makes a full job recovery in 2018, real estate sales volume will rise and peak in 2020 or 2021.
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 August compared to the previous year. This combination of factors is helping home prices move up quickly. Countywide, we saw a 9.4 percent increase in the median price of a home compared to the previous August. In North County, that number climbed 9.9 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 9.9 percent in August 2017 compared to August 2016.
• Detached homes saw a median price increase of 8.9 percent in North County, moving from $633,500 in August 2016 to $690,000 in August 2017.
• The number of sold units in North San Diego County decreased 6.7 percent compared to the previous August. Pending sales rose 0.4 percent in the same period.
• Median days on market for North San Diego County properties was 27. This is a 12.9 percent decrease compared to the previous August.
• Inventory supply in North San Diego County dropped to 1.9 months from 2.8 months in August 2016.
Full County Summary
• The median price for all San Diego County home sales in August 2017 was $546,125. This is a 9.4 percent increase compared to August 2016.
• Detached homes saw a median price increase of 8.3 percent in San Diego County, moving from $563,000 in August 2016 to $610,000 in August 2017.
• Attached homes in San Diego County had a 6.7 percent median price increase compared to the previous year. They moved up to $400,000 in August 2017.
• Inventory supply countywide dropped to 1.9 months in August 2017 compared to 2.5 months a year earlier.