Prices saw incredible growth in North County and San Diego real estate markets in May with North County jumping almost 34 percent year-over and San Diego County gaining 28.4 percent. But while closed sales were significantly higher than the previous May, they didn’t keep up with April’s numbers.
With vaccination numbers rising and economies opening up, our blazing hot market may be cooling slightly. But economists think holding out for lower prices may be a waste of time. North County and San Diego still have very little inventory. This tight supply along with low interest rates will keep pressure on the market.
North County and San Diego Real Estate Markets
May inventory remained at a very low 0.8 months, down 65 to 70 percent from a year ago. Homes sold for over 104 percent of their asking price. Although sales did slow somewhat compared to April, new listings and pending sales both grew proportionally. This won’t bring much relief for home buyers.
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 real estate market 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 33.9 percent in May 2021 compared to May 2020.
- Detached homes saw a median price increase of 31.6 percent in North County, moving from $722,111 in May 2020 to $950,000 in May 2021.
- The number of sold units in North San Diego County increased 68.1 percent compared to the previous May. Pending sales increased 13.8 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 May.
- Inventory supply in North San Diego County dropped from 2.7 months in May 2020 to 0.8 months.
San Diego County Real Estate Summary
- The median price for all San Diego County home sales in May 2021 was $760,000. This is a 28.4 percent increase compared to May 2020.
- Detached homes saw a median price increase of 31.1 percent in San Diego County, moving from $660,000 in May 2020 to $865,000 in May 2021.
- Attached homes in San Diego County had an 24.1 percent median price increase compared to the previous year. They moved up to $540,000 in May 2021.
- Inventory supply countywide in May 2021 decreased from 2.3 months a year earlier to 0.8 months.