North County and San Diego real estate gave us another month of mixed results. Prices dropped slightly in North County, but countywide they saw a slight, year-over gain. The strong economy, low interest rates and tight inventory are keeping pressure on the market, but our high prices are working against that. According to Forbes, home prices in the San Diego market are 19 percent higher than they should be based on incomes in our area.
Although some experts predict our market is at a higher risk of a downturn, others don’t put the San Diego market into their high-risk category should a recession hit. What does this mean for you as a home buyer or seller? It means there are still great opportunities for you. As a buyer, you should focus on long-term investments, and if you are selling, make sure your home is one of the best values for buyers in your specific market.
North County and San Diego Real Estate Markets
North County’s year-over median price decreased 3.1 percent in August. Countywide, the median price increased 1.7 percent. 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 August, pending sales were up in both markets, while closed sales dropped.
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 3.1 percent in August 2019 compared to August 2018.
- Detached homes saw a median price decrease of 2.7 percent in North County, moving from $740,000 in August 2018 to $720,000 in August 2019.
- The number of sold units in North San Diego County decreased 7.6 percent compared to the previous August. Pending sales increased 13.2 percent in the same period.
- Median days on market for North San Diego County properties was 36. This is a 9.1 percent increase compared to the previous August.
- Inventory supply in North San Diego County dropped from 3.1 months in August 2018 to 2.7 months.
Full County Summary
- The median price for all San Diego County home sales in August 2019 was $595,000. This is a 1.7 percent increase compared to August 2018.
- Detached homes saw a median price decrease of 0.8 percent in San Diego County, moving from $665,000 in August 2018 to $660,000 in August 2019.
- Attached homes in San Diego County had a 3.5 percent median price increase compared to the previous year. They moved up to $440,000 in August 2019.
- Inventory supply countywide in August 2019 decreased from 2.8 months a year earlier to 2.4 months.