North County and San Diego real estate markets continue to bring mixed results. Year-over prices dropped, but for the first time since January 2017, more homes sold and went under contract compared to the previous year. And there were some areas where prices saw slight gains.
The rise in pending and closed sales may be due to the combination of lower interest rates and stable home prices making buying more affordable in the San Diego market. While data is still showing a slowdown in national real estate sales, experts predict that if a recession does hit, real estate markets will fare much better than they did in the last recession.
North County and San Diego Real Estate Markets
As it did in August, North County’s year-over median price decreased 3.1 percent in September. Countywide, the median price dropped 0.3 percent. But inventory in both markets continued to show a year-over decrease. The number of new listings also dropped, and pending and closed sales were up in both markets. These factors will maintain our housing shortage and keep pressure on the San Diego County real estate market.
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 September 2019 compared to September 2018.
- Detached homes saw a median price decrease of 3.5 percent in North County, moving from $725,750 in September 2018 to $700,000 in September 2019.
- The number of sold units in North San Diego County increased 6.1 percent compared to the previous September. Pending sales increased 10.8 percent in the same period.
- Median days on market for North San Diego County properties was 36. This is a 5.9 percent increase compared to the previous September.
- Inventory supply in North San Diego County dropped from 3.2 months in September 2018 to 2.5 months.
Full County Summary
- The median price for all San Diego County home sales in September 2019 was $578,000. This is a 0.3 percent decrease compared to September 2018.
- Detached homes saw a median price decrease of 0.6 percent in San Diego County, moving from $647,000 in September 2018 to $643,000 in September 2019.
- Attached homes in San Diego County had a 2.8 percent median price decrease compared to the previous year. They moved down to $415,000 in September 2019.
- Inventory supply countywide in September 2019 decreased from 2.9 months a year earlier to 2.3 months.