The North County and San Diego Real Estate Market Report for January 2019 shows stronger price growth in December, but continues with the same declining market trends that began last April. So even though the median sales price is still climbing, the number of sales continues to drop. We are also seeing longer market times and a growing inventory of homes for sale.
Experts predict more of the same in 2019 with the California Association of REALTORS® noting that while the median home price may rise slightly, home sales will continue to drop. If our slower market is keeping you on the fence as far as buying, you may want to reconsider. Interest rates have recently decreased in reaction to stock market volatility and trade tensions, but most experts expect them to climb, possibly as high as 5.5 percent, in 2019.
Real Estate Report
North County saw the year-over median price increase by 7.4 percent while countywide that number was 4.9 percent. But pending and closed sales decreased in both areas compared to the previous December.
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
- 2018 NORTH COUNTY MARKET REPORT
North County Summary
• The median price for all North County home sales increased 7.4 percent in December 2018 compared to December 2017.
• Detached homes saw a median price increase of 5.8 percent in North County, moving from $685,000 in December 2017 to $725,000 in December 2018.
• The number of sold units in North San Diego County decreased 28.7 percent compared to the previous December. Pending sales decreased 12.8 percent in the same period.
• Median days on market for North San Diego County properties was 43. This is a 30.3 percent increase compared to the previous December.
• Inventory supply in North San Diego County grew from 1.4 months in December 2017 to 2.2 months.
Full County Summary
• The median price for all San Diego County home sales in December 2018 was $566,500. This is a 4.9 percent increase compared to December 2017.
• Detached homes saw a median price increase of 2.5 percent in San Diego County, moving from $610,000 in December 2017 to $625,000 in December 2018.
• Attached homes in San Diego County had a 3.5 percent median price increase compared to the previous year. They moved up to $419,000 in December 2018.
• Inventory supply countywide in December 2018 increased from 1.4 months a year earlier to 2.2 months.