June 2019 North County and San Diego Real Estate Report continues with trends that started last summer. Home prices are slowly rising while the volume of home sales drops and available inventory creeps up. North County showed a year-over median price increase of just 1.0 percent while San Diego County as a whole saw year-over prices rise by 2.6 percent.
The S&P CoreLogic Case-Shiller Indices put San Diego metro price gains at the lowest of their 20-city index for the fourth month in a row. Even with low interest rates, the price of homes in high-cost markets like San Diego is keeping buyers at bay. Some experts do believe that interest rates may drop even lower. Those lower rates could help warm up our market.
North County and San Diego Real Estate
North County and San Diego real estate saw minor price increases along with a continued drop in the number of closed sales. The supply of homes for sale grew in both markets, but those increases have been small. Inventory is still below three months, which is low by historical standards. Homes are taking longer to sell, but market times are still short.
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 1.0 percent in May 2019 compared to May 2018.
- Detached homes saw a median price increase of 2.1 percent in North County, moving from $715,000 in May 2018 to $730,000 in May 2019.
- The number of sold units in North San Diego County decreased 3.5 percent compared to the previous May. Pending sales increased 0.4 percent in the same period.
- Median days on market for North San Diego County properties was 31. This is a 24.0 percent increase compared to the previous May.
- Inventory supply in North San Diego County grew from 2.6 months in May 2018 to 2.8 months.
Full County Summary
- The median price for all San Diego County home sales in May 2019 was $585,000. This is a 2.6 percent increase compared to May 2018.
- Detached homes saw a median price increase of 2.3 percent in San Diego County, moving from $645,000 in May 2018 to $660,000 in May 2019.
- Attached homes in San Diego County had a 3.2 percent median price increase compared to the previous year. They moved up to $434,000 in May 2019.
- Inventory supply countywide in May 2019 increased from 2.2 months a year earlier to 2.4 months.