It’s a great time to sell, and may be your last chance to buy. San Diego County home prices continue to rise; inventory keeps dropping, and interest rates are near historic lows.
With increasing prices, low inventory and short market times, the second quarter of 2016 looks very promising for San Diego County home sellers. But those rising prices are pushing buyers out of the market. If interest rates increase, this will squeeze many buyers out of an already tight market.
Real Estate Report
Here’s the three minute skinny for North County’s first quarter report with a forecast of what the second quarter will bring.
See below for today’s interest rates.
Click on the links 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, all property types, increased 6 percent in April 2016, compared to April 2015.
• The median price for detached homes in North County was $635,000 in April 2016, up 7.2 percent from $592,250 in April 2015.
• The number of sold units in North San Diego County for April 2016 decreased 9.2 percent compared to the previous year, but pending sales rose 7.6 percent in the same period.
• The median days on market for North San Diego County properties decreased 20 percent compared to the previous April from 40 to 32.
• The supply of inventory for all properties in North San Diego County remained low with 2.3 months’ supply.
Full County Summary
• The median price for all San Diego County home sales increased 9.2 percent in April 2016, compared to April 2015.
• The median price for detached homes in San Diego County was $565,500 in April 2016, up 9.4 percent from April 2015.
• The median price for attached homes in San Diego County was $365,000 in April 2016, a 8.1 percent increase over April 2015.
• The supply of inventory countywide dropped to 2.1 months’ supply in April 2016 compared to 2.8 months’ a year earlier.