The March 2018 San Diego Housing Market Report shows February picking up steam. Job growth in San Diego County is strong, and incomes are expected to grow. This along with a lack of homes available for purchase, both new and resale, continues to fuel price increases. Interest rates are rising though, and this limits buyers’ ability to qualify. This is expected to slow down home appreciation in 2018.
Real Estate Report
Price increases in February made up for January’s lackluster numbers. Inventory inched up slightly, as it should this time of year. Days on market shrunk, and sellers closed at numbers very close to their original asking price.
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 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 increased 11.7 percent in February 2018 compared to February 2017.
• Detached homes saw a median price increase of 11.6 percent in North County, moving from $627,000 in February 2017 to $700,000 in February 2018.
• The number of sold units in North San Diego County decreased 15.1 percent compared to the previous February. Pending sales decreased 7.37 percent in the same period.
• Median days on market for North San Diego County properties was 29. This is a 19.4 percent decrease compared to the previous February.
• Inventory supply in North San Diego County dropped to 1.5 months from 1.7 months in February 2017.
Full County Summary
• The median price for all San Diego County home sales in February 2018 was $549,000. This is a 9.8 percent increase compared to February 2017.
• Detached homes saw a median price increase of 9.6 percent in San Diego County, moving from $560,000 in February 2017 to $614,000 in February 2018.
• Attached homes in San Diego County had an 11.7 percent median price increase compared to the previous year. They moved up to $426,000 in February 2018.
• Inventory supply countywide dropped to 1.5 months in February 2018 compared to 1.7 months a year earlier.