The December 2017 San Diego Housing Market Report shows year-over price increases jumping back up to double digits after dropping to a more sustainable rate of approximately 5 percent last month.
Real Estate Report
Median sales prices saw a 12.0 percent year-over increase in North County and an 11.1 percent increase countywide. Along with these strong price increases, we continue to see fewer closed sales, fewer new listings and a lack of inventory for sale.
Market analysts expect inventory levels to stay low in 2018. They predict that interest rates will rise somewhat and cause home appreciation to slow down a bit. Tax reform, depending on the bill that ends up being passed, may change this forecast, especially for homes in California.
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 12.0 percent in November 2017 compared to November 2016.
• Detached homes saw a median price increase of 12.9 percent in North County, moving from $620,000 in November 2016 to $700,000 in November 2017.
• The number of sold units in North San Diego County decreased 18.0 percent compared to the previous November. Pending sales increased 3.5 percent in the same period.
• Median days on market for North San Diego County properties was 31. This is a 16.2 percent decrease compared to the previous November.
• Inventory supply in North San Diego County dropped to 1.6 months from 2.1 months in November 2016.
Full County Summary
• The median price for all San Diego County home sales in November 2017 was $550,000. This is an 11.1 percent increase compared to November 2016.
• Detached homes saw a median price increase of 11.8 percent in San Diego County, moving from $559,000 in November 2016 to $625,058 in November 2017.
• Attached homes in San Diego County had an 11.6 percent median price increase compared to the previous year. They moved up to $407,500 in November 2017.
• Inventory supply countywide dropped to 1.6 months in November 2017 compared to 2.0 months a year earlier.