The January 2018 San Diego Housing Market Report reveals continued price increases and an even tighter inventory in San Diego and North County. This is great if you are planning on selling your home, but frustrating if you are looking to buy one.
Even with our tight inventory, it might not be a good idea to wait to buy. Many experts think appreciation will continue, but slow down. Interest rates are expected to increase. So is inventory, but not until late in the year. I have more information about what to expect in the 2018 real estate market in this recent post.
Real Estate Report
Median sales prices saw a 7.1 percent year-over increase in North County and a 9.7 percent increase countywide in December. Inventory was down to a very low, 1.3 months’ supply in both markets.
North County Annual Report
These are highlights from the 2017 North San Diego County annual report. If you’d like to read the full report, click here.
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 7.1 percent in December 2017 compared to December 2016.
• Detached homes saw a median price increase of 8.9 percent in North County, moving from $629,000 in December 2016 to $685,000 in December 2017.
• The number of sold units in North San Diego County decreased 13.9 percent compared to the previous December. Pending sales decreased 1.5 percent in the same period.
• Median days on market for North San Diego County properties was 33. This is a 25 percent decrease compared to the previous December.
• Inventory supply in North San Diego County dropped to 1.3 months from 1.7 months in December 2016.
Full County Summary
• The median price for all San Diego County home sales in December 2017 was $548,733. This is a 9.7 percent increase compared to December 2016.
• Detached homes saw a median price increase of 8.5 percent in San Diego County, moving from $565,000 in December 2016 to $612,750 in December 2017.
• Attached homes in San Diego County had an 11.5 percent median price increase compared to the previous year. They moved up to $407,000 in December 2017.
• Inventory supply countywide dropped to 1.3 months in December 2017 compared to 1.7 months a year earlier.