The North County and San Diego housing markets continued to see 16 to 17 percent, year-over price increases with inventory being squeezed down to almost nothing in November. And although closed and pending sales have dropped compared to last year, new listings have taken an even bigger hit. This is keeping a lot of pressure on our market with few options for home buyers.
North County and San Diego Housing Markets
The Case Shiller numbers for September showed some cooling in our incredibly hot market, and the October median price didn’t increase. But, countywide, November numbers showed a $10,000 monthly median price jump. Experts predict the market will ease off somewhat in 2022, but until inventory starts to rise, we’re not likely to see much change.
The number of homes for sale dropped by over 50 percent compared to this time last year. Sales continued to close at approximately 101.7 percent of asking price, and market times were slightly lower than they were a year ago.
See below for this month’s statistics and daily interest rate updates.
Interest Rates
Market Updates
Click on the links below to read the San Diego 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 Housing Summary
- The median price for all North County home sales increased 15.8 percent in November 2021 compared to November 2020.
- Detached homes saw a median price increase of 16.6 percent in North County, moving from $785,000 in November 2020 to $915,000 in November 2021.
- The number of sold units in North San Diego County decreased 15.5 percent compared to the previous November. Pending sales dropped 10.9 percent in the same period.
- Median days on market for North San Diego County properties was 18. This is a 5.3 percent decrease from the previous November.
- Inventory supply in North San Diego County dropped from 1.5 months in November 2020 to 0.7 months.
San Diego County Housing Summary
- The median price for all San Diego County home sales in November 2021 was $770,000. This is a 16.7 percent increase compared to November 2020.
- Detached homes saw a median price increase of 14.7 percent in San Diego County, moving from $750,000 in November 2020 to $860,000 in November 2021.
- Attached homes in San Diego County had an 25.1 percent median price increase compared to the previous year. They moved up to $595,000 in November 2021.
- Inventory supply countywide in November 2021 decreased from 1.3 months a year earlier to 0.6 months.