The North County and San Diego Real Estate markets continue to show modest gains in year-over, median home prices. But this may be due to the pressure caused by low resale inventory and the lack of new homes in our market.
The real estate market is slowing down. Sales have decreased consistently in the first half of this year when compared to the same time last year. Will this slump continue? The San Diego Union-Tribune polled their local experts in their weekly Econometer column. Opinions were evenly split, but even those who felt this slowdown was not necessarily long-term did concede that prices have moved beyond most buyers’ reach. Some also noted that we are nearing the end of an economic cycle.
North County and San Diego Real Estate Markets
North County’s year-over median price increased 2.3 percent in June. Countywide, the median price rose by 3.4 percent. The supply of homes for sale and the number of days those homes took to sell grew in both markets, but those numbers are still low. Compared to the previous June, pending sales were slightly higher, while closed sales were down by over 10 percent.
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 2.3 percent in June 2019 compared to June 2018.
- Detached homes saw a median price increase of 5.3 percent in North County, moving from $721,500 in June 2018 to $760,000 in June 2019.
- The number of sold units in North San Diego County decreased 13.9 percent compared to the previous June. Pending sales increased 1.2 percent in the same period.
- Median days on market for North San Diego County properties was 32. This is a 18.5 percent increase compared to the previous June.
- Inventory supply in North San Diego County grew from 2.8 months in June 2018 to 3.0 months.
Full County Summary
- The median price for all San Diego County home sales in June 2019 was $600,000. This is a 3.4 percent increase compared to June 2018.
- Detached homes saw a median price increase of 3.2 percent in San Diego County, moving from $654,000 in June 2018 to $674,900 in June 2019.
- Attached homes in San Diego County had a 4.8 percent median price increase compared to the previous year. They moved up to $445,000 in June 2019.
- Inventory supply countywide in June 2019 increased from 2.4 months a year earlier to 2.6 months.