Reports of March’s record-breaking price increases are all over the news right now. But did you know that in the North County and San Diego real estate markets home prices grew even faster in April?
This rapid price jump is making it difficult for buyers to purchase homes here. In the first quarter of 2021, housing affordability in San Diego was down to 25%.
Although declining affordability will affect our real estate market, experts don’t see today’s housing shortage going away any time soon.
North County and San Diego Real Estate May 2021
Year-over median prices were up over 20 percent countywide and over 24 percent in North County. Inventory continued to stay below one month in all markets. Homes were selling at close to 104 percent of their asking price.
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
- 2020 NORTH COUNTY MARKET REPORT
North County Real Estate Summary
- The median price for all North County home sales increased 24.2 percent in April 2021 compared to April 2020.
- Detached homes saw a median price increase of 32.4 percent in North County, moving from $710,000 in April 2020 to $940,000 in April 2021.
- The number of sold units in North San Diego County increased 60.3 percent compared to the previous April. Pending sales increased 84.9 percent in the same period.
- Median days on market for North San Diego County properties was 14. This is a 51.7 percent decrease from the previous April.
- Inventory supply in North San Diego County dropped from 2.6 months in April 2020 to 0.8 months.
San Diego County Real Estate Summary
- The median price for all San Diego County home sales in April 2021 was $729,283. This is a 20.5 percent increase compared to April 2020.
- Detached homes saw a median price increase of 24.4 percent in San Diego County, moving from $675,000 in April 2020 to $840,000 in April 2021.
- Attached homes in San Diego County had an 21.8 percent median price increase compared to the previous year. They moved up to $631,154 in April 2021.
- Inventory supply countywide in April 2021 decreased from 2.3 months a year earlier to 0.7 months.