February brought continued price growth to North County and San Diego real estate markets. Because of the coronavirus, the California Association of Realtors® is planning on revising this year’s forecast lower, but say the changes will be modest. The uncertainty the virus has brought to financial markets has also led to lower interest rates. Those low rates are spurring on home purchases and refinances.
North County and San Diego Real Estate Markets
Year-over prices were up 8.1 percent countywide and 5.0 percent in North County. Inventory dropped by over 40 percent compared to the previous year, and market times were shorter. We continue to see fewer new listings but more pending and closed sales.
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 5.0 percent in February 2020 compared to February 2019.
- Detached homes saw a median price increase of 7.9 percent in North County, moving from $673,000 in February 2019 to $726,000 in February 2020.
- The number of sold units in North San Diego County increased 6.9 percent compared to the previous February. Pending sales increased 22.9 percent in the same period.
- Median days on market for North San Diego County properties was 39. This is a 11.4 percent decrease from the previous February.
- Inventory supply in North San Diego County dropped from 2.6 months in February 2019 to 1.5 months.
Full County Summary
- The median price for all San Diego County home sales in February 2020 was $600,000. This is an 8.1 percent increase compared to February 2019.
- Detached homes saw a median price increase of 8.3 percent in San Diego County, moving from $625,000 in February 2019 to $677,000 in February 2020.
- Attached homes in San Diego County had a 9.4 percent median price increase compared to the previous year. They moved up to $450,000 in February 2020.
- Inventory supply countywide in February 2020 decreased from 2.4 months a year earlier to 1.4 months.