The North County and San Diego real estate markets are still hot, but it looks like a cool down might be starting.
Countywide, the median sales price dropped in July compared to June, but was still up almost 19 percent from July 2020. A cooling off of the market is typical this time of year as we leave the busy spring-summer season. We didn’t see this last year because COVID pushed the peak home buying season into fall and significantly cut into an already low-inventory market.
North County and San Diego Real Estate Markets
New listings in July fell, but pending sales dropped along with it. Because if this, inventory crept up to one month. This is still very low, but at least it’s moving in the right direction. Homes were still selling above asking prices, but for about one percent less than they were in June. Year-over closed sales were down in both the North County and San Diego real estate markets. Those numbers were also lower than what we saw in June of this year.
If you’re looking to sell, it’s still a great time. If you’re buying right now, don’t expect prices to drop. But the market is starting to moderate. Wondering what this means for the future? Take a look at my latest blog post, 5 Factors Telling Us Where the Housing Market is Headed.
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 22.3 percent in July 2021 compared to July 2020.
- Detached homes saw a median price increase of 28.3 percent in North County, moving from $760,000 in July 2020 to $975,293 in July 2021.
- The number of sold units in North San Diego County decreased 10 percent compared to the previous July. Pending sales dropped 20.6 percent in the same period.
- Median days on market for North San Diego County properties was 13. This is a 56.7 percent decrease from the previous July.
- Inventory supply in North San Diego County dropped from 2.2 months in July 2020 to 1.0 months.
San Diego County Real Estate Summary
- The median price for all San Diego County home sales in July 2021 was $760,000. This is a 18.8 percent increase compared to July 2020.
- Detached homes saw a median price increase of 20.7 percent in San Diego County, moving from $724,950 in July 2020 to $875,000 in July 2021.
- Attached homes in San Diego County had an 21.4 percent median price increase compared to the previous year. They moved up to $550,000 in July 2021.
- Inventory supply countywide in July 2021 decreased from 2.0 months a year earlier to 1.0 months.