February 2018 San Diego Housing Market Report

February 2018 San Diego Housing Market Report

The February 2018 San Diego Housing Market Report shows January as a fairly quiet month. This is expected after the holidays. That being said, we still saw continued price increases and tight inventory in San Diego and North County. In fact, San Diego ranked sixth on the hottest U.S. markets list from realtor.com®.

Change may be coming though. Interest rates are increasing. These higher rates will decrease buyer’s purchasing power. Tax law changes now limit property tax deductions. With these changes, experts expect price increases to continue, but at a slower pace. They also see more inventory coming on the market by the end of the year.

Real Estate Report

Median sales prices saw a 2.6 percent year-over increase in North County and a 5.0 percent increase countywide in January. Inventory was down to a very low, 1.4 months’ supply in both markets.

See below for this month’s statistics and daily interest rate updates.

Interest Rates

Market Updates

Click on the links below to read the full housing statistics reports.

North County Summary

• The median price for all North County home sales increased 2.6 percent in January 2018 compared to January 2017.

• Detached homes saw a median price increase of 0.2 percent in North County, moving from $648,000 in January 2017 to $649,000 in January 2018.

• The number of sold units in North San Diego County decreased 11.3 percent compared to the previous January. Pending sales increased 0.7 percent in the same period.

• Median days on market for North San Diego County properties was 35. This is a 16.7 percent decrease compared to the previous January.

• Inventory supply in North San Diego County dropped to 1.4 months from 1.8 months in January 2017.

Full County Summary

• The median price for all San Diego County home sales in January 2018 was $530,000. This is a 5.0 percent increase compared to January 2017.

• Detached homes saw a median price increase of 6.8 percent in San Diego County, moving from $557,000 in January 2017 to $595,000 in January 2018.

• Attached homes in San Diego County had an 9.1 percent median price increase compared to the previous year. They moved up to $409,000 in January 2018.

• Inventory supply countywide dropped to 1.4 months in January 2018 compared to 1.7 months a year earlier.

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