The North County and San Diego Real Estate Market Report for February 2019 continues to show a slower market, but with drops in interest rates that started at the end of December, there has been a slight pickup in sales. That’s why closed sales numbers were down 16.2 percent in North County and 17.9 percent countywide compared to the previous January. But pending sales, which show more recent activity, dropped quite a bit less with a 1.1 percent decrease in North County, and a drop of 3.7 percent countywide.
Experts anticipate that interest rates will rise as high as 5.5 percent in 2019. If this happens, it will most likely put a damper on home sales and appreciation. But because income growth is strong in San Diego, Zillow still predicts our market will be one of the top 10 hottest markets in 2019.
Real Estate Report
North County saw a year-over median price increase of 5.2 percent, while countywide that number was 5.7 percent. Both markets showed longer market times and a significant increase in the supply of homes compared to the previous year.
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 5.2 percent in January 2019 compared to January 2018.
• Detached homes saw a median price increase of 2.5 percent in North County, moving from $649,000 in January 2018 to $665,000 in January 2019.
• The number of sold units in North San Diego County decreased 16.2 percent compared to the previous January. Pending sales decreased 1.1 percent in the same period.
• Median days on market for North San Diego County properties was 47. This is a 30.6 percent increase compared to the previous January.
• Inventory supply in North San Diego County grew from 1.7 months in January 2018 to 2.4 months.
Full County Summary
• The median price for all San Diego County home sales in January 2019 was $560,000. This is a 5.7 percent increase compared to January 2018.
• Detached homes saw a median price increase of 3.4 percent in San Diego County, moving from $595,000 in January 2018 to $615,000 in January 2019.
• Attached homes in San Diego County had a 2.5 percent median price increase compared to the previous year. They moved up to $415,000 in January 2019.
• Inventory supply countywide in January 2019 increased from 1.6 months a year earlier to 2.3 months.