The real estate market in San Diego County continues to move toward equilibrium. Appreciation is almost at a sustainable level with detached homes in North County showing a year-over appreciation of almost seven percent and those outside of North County almost eight percent. This isn’t the four to five percent appreciation that has historically been supported by income and inflation, but is getting close. It is certainly much more sustainable than the 22 percent price increase we experienced between July 2013 and July 2012.
July prices and sales in San Diego County were lower than they were in June, but our 3.5 month inventory is still tight and homes are selling quickly. Inventory is growing, but it hasn’t reached the five to six months worth of supply which usually indicates a balanced market.
To read the full housing statistics reports, click on the links below.
North County Summary
• The median price for all North County home sales attached and detached decreased to $525,000 in July 2014 compared to $535,000 in June 2014.
• Median price for detached homes in North County decreased 1.55 percent to $602,500 in July 2014 compared to $612,000 in June 2014.
• Year-over median SFD price in North San Diego County increased 6.83 percent, compared to $564,000 in June 2013, continuing 24 straight months of year-over median price increases.
• The number of sold units in North San Diego County for July 2014 was 835, a decrease of 10.12 percent compared to June 2014.
• Median day on market for North San Diego County SFD homes sold increased to 22 days in July 2014 compared to 18 days in June 2014.
• The HomeDex affordability percentage for all homes in North San Diego County increased to 31 percent in July 2014 compared to 29 percent in June 2014.
Full County Summary
• The median price for a single-family detached (SFD) home in San Diego County was $520,000 in July 2014, a decrease of 1.89 percent compared to $530,000 in June 2014.
• Year-over median SFD home price increased 7.22 percent compared to $485,000 reported in July 2013.
• The number of sold SFD units throughout San Diego County in July 2014 was 1,842, a decrease of 4.06 percent compared to June 2014.
• Median days on market in July for SFD homes in San Diego Metro was 18 days, 21 days for South County, and 24 days for East County.
• The HomeDex affordability percentage in July 2014 for a SFD home in San Diego Metro was 29 percent, South County was at 39 percent, and East County was at 42 percent.
JULY 2014 FULL COUNTY HomeDex Report
JULY 2014 NORTH COUNTY HomeDex Report
Information taken from HomeDex™ Copyright © 2012 by the North San Diego County Association of Realtors (NSDCAR). Used by permission.