September North County and San Diego real estate markets are still strong. If you’re thinking of selling, the time is right. If you’re looking to buy, it is the best of times, and it is the worst of times. Buyers can take advantage of historically low interest rates, but are being thwarted by the lack of inventory.
Is the market likely to change soon? Experts predict the real estate market will remain strong throughout 2020, but some think we may see a slowdown in 2021. Mortgage lenders expect home loan rates to remain low, perhaps through 2021. But they do caution that with a COVID vaccine or possible inflation, we will see interest rates rise.
North County and San Diego Real Estate September 2020
Both North County and San Diego County as a whole saw strong, year-over, median price gains of 12.6 and 11.9 percent respectively. Inventory dropped compared to last year by approximately 50 percent. Year-over market times were significantly shorter, and while we saw a drop in new listings, pending sales increased by approximately 25 percent.
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 12.6 percent in August 2020 compared to August 2019.
- Detached homes saw a median price increase of 17.1 percent in North County, moving from $700,000 in August 2019 to $820,000 in August 2020.
- The number of sold units in North San Diego County increased 9.9 percent compared to the previous August. Pending sales increased 26.2 percent in the same period.
- Median days on market for North San Diego County properties was 28. This is a 22.2 percent decrease from the previous August.
- Inventory supply in North San Diego County dropped from 2.9 months in August 2019 to 1.4 months.
Full County Summary
- The median price for all San Diego County home sales in August 2020 was $660,000. This is an 11.9 percent increase compared to August 2019.
- Detached homes saw a median price increase of 14.5 percent in San Diego County, moving from $655,000 in August 2019 to $750,000 in August 2020.
- Attached homes in San Diego County had a 9.2 percent median price increase compared to the previous year. They moved up to $475,000 in August 2020.
- Inventory supply countywide in August 2020 decreased from 2.6 months a year earlier to 1.4 months.