As the economy opens up, we are seeing the June North County and San Diego real estate markets do the same. Pending sales and new listings are moving back up, although inventory is still very low.
This lack of inventory, low interest rates and high demand from millennials is keeping our market stable. And with the Fed’s recent announcement that they will continue to buy mortgage-backed securities, experts predict that mortgage rates will continue to remain low.
North County and San Diego Real Estate June 2020
Year-over prices were up 2.2 percent countywide and 0.5 percent in North County. Inventory was still down 36 to 37 percent compared to last May, and market times were shorter. There were 26 percent fewer new listings. Pending sales were 6 to 8 percent lower than last year, but that’s a big improvement over April’s 40 percent drop, and an indicator that buyers are coming back to the market more quickly than sellers.
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 0.5 percent in May 2020 compared to May 2019.
- Detached homes saw a median price increase of 2.1 percent in North County, moving from $730,000 in May 2019 to $745,000 in May 2020.
- The number of sold units in North San Diego County decreased 48.6 percent compared to the previous May. Pending sales decreased 5.9 percent in the same period.
- Median days on market for North San Diego County properties was 26. This is a 16.1 percent decrease from the previous May.
- Inventory supply in North San Diego County dropped from 3.0 months in May 2019 to 1.9 months.
Full County Summary
- The median price for all San Diego County home sales in May 2020 was $598,000. This is an 2.2 percent increase compared to May 2019.
- Detached homes saw a median price increase of 1.2 percent in San Diego County, moving from $655,000 in May 2019 to $662,675 in May 2020.
- Attached homes in San Diego County had a 1.2 percent median price increase compared to the previous year. They moved up to $435,000 in May 2020.
- Inventory supply countywide in May 2020 decreased from 2.5 months a year earlier to 1.9 months.