North County and San Diego real estate markets were heating up in March with little inventory and short market times. Then COVID-19 requirements shut down many businesses. This is definitely slowing down home sales and making it difficult to view homes, but it’s not 2008. Back then we had a large number of homes on the market. Now we have entered this pandemic with few homes for sale and a housing shortage.
There has been a decrease in the number of homes that are selling, but that’s been balanced by homeowners taking their properties off the market and a drop in new listings. If you compare March’s pending sales and new listings with the previous years’ markets, you’ll see that both have dropped by close to 20 percent.
North County and San Diego Real Estate Markets
Year-over prices were up 6.9 percent countywide and 2.9 percent in North County. Inventory dropped by over 33 percent compared to the previous year, and market times were shorter. New listings and pending sales all dropped by close to 20 percent in both markets.
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 2.9 percent in March 2020 compared to March 2019.
- Detached homes saw a median price increase of 4.4 percent in North County, moving from $685,000 in March 2019 to $715,000 in March 2020.
- The number of sold units in North San Diego County increased 3.4 percent compared to the previous March. Pending sales decreased 20.6 percent in the same period.
- Median days on market for North San Diego County properties was 29. This is a 21.6 percent decrease from the previous March.
- Inventory supply in North San Diego County dropped from 2.7 months in March 2019 to 1.8 months.
Full County Summary
- The median price for all San Diego County home sales in March 2020 was $605,000. This is an 6.9 percent increase compared to March 2019.
- Detached homes saw a median price increase of 8.0 percent in San Diego County, moving from $629,900 in March 2019 to $680,000 in March 2020.
- Attached homes in San Diego County had a 8.1 percent median price increase compared to the previous year. They moved up to $454,000 in March 2020.
- Inventory supply countywide in March 2020 decreased from 2.4 months a year earlier to 1.6 months.