The April 2018 North County and San Diego Real Estate Market Report continues to show strong price growth, tight inventory and fewer sales compared to 2017. Those price increases along with rising mortgage rates are making it tough for home buyers. The San Diego economy is strong based on a recent study by University of San Diego, but experts don’t see the real estate boom lasting forever.
Real Estate Report
Both North County and San Diego County as a whole saw a median price increase of approximately 8.5 percent compared to the previous March. Inventory is still under two months in all parts of the county, and while sellers are seeing decreases in market time and slight increases in the prices they receive compared to their asking prices, there are fewer new listings, pending sales and closed sales compared to 2017.
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 8.5 percent in March 2018 compared to March 2017.
• Detached homes saw a median price increase of 9.9 percent in North County, moving from $650,000 in March 2017 to $714,400 in March 2018.
• The number of sold units in North San Diego County decreased 15.8 percent compared to the previous March. Pending sales decreased 7.9 percent in the same period.
• Median days on market for North San Diego County properties was 27. This is a 12.9 percent decrease compared to the previous March.
• Inventory supply in North San Diego County dropped to 1.8 months from 1.9 months in March 2017.
Full County Summary
• The median price for all San Diego County home sales in March 2018 was $560,000. This is a 8.4 percent increase compared to March 2017.
• Detached homes saw a median price increase of 10.4 percent in San Diego County, moving from $575,060 in March 2017 to $635,000 in March 2018.
• Attached homes in San Diego County had a 5.7 percent median price increase compared to the previous year. They moved up to $412,250 in March 2018.
• Inventory supply countywide dropped to 1.7 months in March 2018 compared to 1.8 months a year earlier.