San Diego County jumped up to eighth position in realtor.com’s® 20 Hottest Real Estate Markets. That’s our best ranking in May since Realtor.com started comparing markets three years ago.
Real Estate Report
May’s market statistics certainly support that hot ranking. Countywide, the median sales price increased 7.9 percent compared to the previous May and the supply of available inventory fell to a meager 2.1 months.
This is wonderful for San Diego County home sellers, but rising prices are making it difficult for buyers. The California Association of Realtors reports that only 28 percent of households could afford the median priced home in the first quarter of 2016. With home prices continuing to rise, that number will most likely drop even lower.
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 7.6 percent in May 2016, compared to May 2015.
• The median price for detached homes in North County was $650,000 in May 2016, up 7.9 percent from $602,250 in May 2015.
• The number of sold units in North San Diego County for May 2016 increased 0.3 percent compared to the previous year, but pending sales rose 11.1 percent in the same period.
• The median days on market for North San Diego County properties decreased 18.4 percent compared to the previous May from 38 to 31.
• 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 7.9 percent in May 2016, compared to May 2015.
• The median price for detached homes in San Diego County was $570,000 in May 2016, up 8.6 percent from May 2015.
• The median price for attached homes in San Diego County was $380,000 in May 2016, a 9.2 percent increase over May 2015.
• The supply of inventory countywide dropped to 2.1 months’ supply in May 2016 compared to 2.8 months’ a year earlier.