The May 2019 North County and San Diego Real Estate Report shows that after climbing at a fairly fast pace for several years, home-price growth is slowing down. North County saw its first year-over, median price downturn in 43 months. Countywide, prices continued to move up at a moderate rate of 2.4 percent compared to the previous April.
Before you panic about a crash, most experts don’t see one coming soon. They blame this slowdown on a lack of affordability in high priced markets like ours. This lack of affordability is because home prices have risen faster than wages.
North County and San Diego Real Estate
North County’s year-over median price decreased 0.8 percent in April. Countywide, the median price rose by 2.4 percent. The supply of homes for sale grew, and they took longer to sell in both markets. Fewer homes closed than did in April 2018, but more of them went under contract.
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 decreased 0.8 percent in April 2019 compared to April 2018.
- Detached homes saw a median price decrease of 4.0 percent in North County, moving from $723,000 in April 2018 to $694,150 in April 2019.
- The number of sold units in North San Diego County decreased 7.5 percent compared to the previous April. Pending sales increased 9.7 percent in the same period.
- Median days on market for North San Diego County properties was 35. This is a 34.6 percent increase compared to the previous April.
- Inventory supply in North San Diego County grew from 2.3 months in April 2018 to 2.7 months.
Full County Summary
- The median price for all San Diego County home sales in April 2019 was $588,900. This is a 2.4 percent increase compared to April 2018.
- Detached homes saw a median price increase of 2.38 percent in San Diego County, moving from $640,000 in April 2018 to $655,000 in April 2019.
- Attached homes in San Diego County had a 1.2 percent median price decrease compared to the previous year. They moved down to $420,000 in April 2019.
- Inventory supply countywide in April 2019 increased from 2.1 months a year earlier to 2.3 months.