Category Archives: San Diego County Housing Market

North County and San Diego Housing Markets:
Buy Now or Wait for Lower Interest Rates?

North County and San Diego Housing Markets March 2024, Pam Fraser. Chart of resale housing statistics for North San Diego County

Both the North County and San Diego housing markets saw strong year-over and month-over price increases in February. This is because demand continues to exceed supply even with today’s higher interest rates.

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Buy Now or Wait for Lower Interest Rates?

North County and San Diego Housing Markets October 2023

North County and San Diego Housing Markets October 2023 from Pam Fraser. Chart of resale housing statistics for North San Diego County

With mortgage rates close to 8 percent, month-over prices have backed off slightly in the North County and San Diego housing markets, but year-over prices continue to increase. New listings, pending sales and closed sales have all decreased.

Continue reading North County and San Diego Housing Markets October 2023

North County and San Diego Housing Markets July 2023

North County and San Diego Housing Markets July 2023 Pam Fraser pictogram of housing market statistics in North San Diego County from June 2023

While prices in the North County and San Diego housing markets haven’t quite reached their peaks from April, 2022, they’re getting close, and median values are higher than they were a year ago. Countywide, the year-over median price is up 1.8 percent, and in North County, it gained 3.2 percent. Inventory is slowly creeping up, but it’s still under two months.

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North County and San Diego Housing Markets June 2023

North County and San Diego Housing Markets June 2023, Pam Fraser, chart of North San Diego County housing sales statistics from May 2023

Despite persistently higher mortgage rates, the North County and San Diego housing markets are recovering. The median price hasn’t yet reached last April’s peak, but it continues to move upward, and increased just over 1.5 percent from April to May. New listings picked up slightly which helped to expand the still very tight inventory of available homes.

Why are we seeing multiple offers on homes and sales prices exceeding list prices when the year-over volume of closed sales was down by almost 30 percent? Continue reading North County and San Diego Housing Markets June 2023

North County and San Diego Housing Markets July 2022

North County and San Diego Housing Markets July 2022 North County Market Snapshot for June 2022 Pam Fraser

The North County and San Diego County housing markets are slowing. Since April, we’ve seen an increase in supply with fewer pending and sold homes. Market times have increased, but only slightly. And although homes still sold over asking price in June, those numbers also dropped.

Continue reading North County and San Diego Housing Markets July 2022

North County and San Diego Housing Markets June 2022

North County and San Diego Housing Markets June 2022 North County Market Snapshot Pam Fraser

North County and San Diego housing markets saw just an inkling of easing in May, but still stayed very strong. With interest rates pushing up to six percent in June, experts expect more slowing. Looking at the numbers so far for June compared to those of May, we are seeing some slowdown. But don’t expect much change in the market just yet. Inventory is still very low. Homes are still moving quickly with many selling over their asking price.

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North County and San Diego Housing Markets May 2022

North County and San Diego Housing Markets May 2022 chart of housing market statistics

Change is in the air, but North County and San Diego housing markets are just starting to feel it. Nationally, mortgage applications are down, home touring activity dropped by 24 percent between January 1 and May 1, and more sellers are lowering their asking prices.

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North County and San Diego Housing Markets April 2022

North County and San Diego Housing Markets April 2022 chart of home sale statistics in North County San Diego

Even with high inflation and rising interest rates, we had another record-breaking month in the North County and San Diego housing markets. Year-over prices in North County were up a whopping 25 percent, and homes sold at 106.7 percent of their asking prices!

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North County and San Diego Housing Markets March 2022

North County and San Diego Housing Markets March 2022

The February North County and San Diego housing markets looked a lot like they did in January, just a little crazier. Although year-over appreciation numbers weren’t quite as high, homes sold at 105.5 percent of their asking prices countywide, and inventory remained at a very low 0.5 months.

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North County and San Diego Housing Markets February 2022

North County and San Diego Housing Markets February 2022

January’s increasing interest rates put more pressure on the already insane North County and San Diego housing markets pushing the median, year-over sales price up by 20 percent in San Diego County. According to OJO Labs, we now are the nation’s least affordable metro.

Continue reading North County and San Diego Housing Markets February 2022