December brought moderate price increases to both North County and San Diego real estate markets. This lines up with the Freddie Mac end of year forecast which predicts modest but slowing growth in the housing market in 2020 and 2021. That’s good news compared to previous predictions, but business leaders are still expecting an economic slowdown by the end of 2020 with 97% of CFOs saying a downturn has already begun or will by the end of this year.
For more information on where the real estate market is headed, see my 2020 Real Estate Market Forecast.
North County and San Diego Real Estate Markets
North County and San Diego County overall saw year-over median price increases of 2.6 and 3.5 percent respectively. Inventory is over 30 percent lower in both markets compared to last year. Pending and closed sales have increased, and market time has decreased.
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
- 2019 NORTH COUNTY MARKET REPORT
North County Summary
- The median price for all North County home sales increased 2.6 percent in December 2019 compared to December 2018.
- Detached homes saw a median price increase of 4.0 percent in North County, moving from $700,000 in December 2018 to $728,000 in December 2019.
- The number of sold units in North San Diego County increased 24.9 percent compared to the previous December. Pending sales increased 15.2 percent in the same period.
- Median days on market for North San Diego County properties was 39. This is a 15.2 percent decrease from the previous December.
- Inventory supply in North San Diego County dropped from 2.4 months in December 2018 to 1.6 months.
Full County Summary
- The median price for all San Diego County home sales in December 2019 was $585,000. This is an 3.5 percent increase compared to December 2018.
- Detached homes saw a median price increase of 6.7 percent in San Diego County, moving from $623,000 in December 2018 to $665,000 in December 2019.
- Attached homes in San Diego County had an 6.2 percent median price increase compared to the previous year. They moved up to $440,000 in December 2019.
- Inventory supply countywide in December 2019 decreased from 2.3 months a year earlier to 1.4 months.