North County and San Diego real estate markets show a mixed bag of results this month. We should be seeing a robust market with unemployment and interest rates so low, but price increases are stalling out and sales continue to slow.
Experts cite several reasons for the slowing market, the 2017 tax changes that limit state and local deductions, trade wars, and fewer foreign buyers. Some think that home buyers are waiting for prices to drop. But San Diego County’s lack of available homes for sale may keep that from happening. Although we have been seeing inventory slowly creep upwards, it pulled back this month. If that continues, there will be fewer choices for home buyers.
North County and San Diego Real Estate Markets
North County’s year-over median price decreased 3.3 percent in July. Countywide, the median price was flat. Although the number of days those homes took to sell grew in both markets, the supply of homes for sale decreased. Compared to the previous July, pending sales were up by over 10 percent, while closed sales were down slightly.
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 3.3 percent in July 2019 compared to July 2018.
- Detached homes saw a median price decrease of 3.9 percent in North County, moving from $749,000 in July 2018 to $720,000 in July 2019.
- The number of sold units in North San Diego County decreased 0.2 percent compared to the previous July. Pending sales increased 10.8 percent in the same period.
- Median days on market for North San Diego County properties was 31. This is a 3.3 percent increase compared to the previous July.
- Inventory supply in North San Diego County dropped from 3.0 months in July 2018 to 2.8 months.
Full County Summary
- The median price for all San Diego County home sales in July 2019 was $585,000. This is the same as in July 2018.
- Detached homes saw a median price increase of 0.6 percent in San Diego County, moving from $651,000 in July 2018 to $655,000 in July 2019.
- Attached homes in San Diego County had a 1.2 percent median price increase compared to the previous year. They moved up to $435,000 in July 2019.
- Inventory supply countywide in July 2019 decreased from 2.6 months a year earlier to 2.5 months.