Change is in the air, but North County and San Diego housing markets are just starting to feel it. Nationally, mortgage applications are down, home touring activity dropped by 24 percent between January 1 and May 1, and more sellers are lowering their asking prices.
In San Diego, we saw fewer pending sales in April than we had in March, but the median sales price still increased by $25,000. Inventory grew, and while it is still below one month, it’s moving upward. This hasn’t brought much relief to buyers. Homes were still selling quickly and above asking their asking prices.
North County and San Diego Housing Markets
Median, year-over home prices were up by approximately 21 percent. Homes sold on average for over 107 percent of their asking price. New listings, pending sales and closed sales all dropped from the previous year. And compared to March, there were more new listings, but fewer pending sales.
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
- 2021 SAN DIEGO COUNTY MARKET REPORT
North County Housing Summary
- The median price for all North County home sales increased 21.1 percent in April 2022 compared to April 2021.
- Detached homes saw a median price increase of 17.1 percent in North County, moving from $940,000 in April 2021 to $1,101,011 in April 2022.
- The number of sold units in North San Diego County decreased 22.6 percent compared to the previous April. Pending sales dropped 19.9 percent in the same period.
- Median days on market for North San Diego County properties was 11. This is a 21.4 percent decrease from the previous April.
- Inventory supply in North San Diego County dropped from 1.3 months in April 2021 to 0.9 months.
San Diego County Housing Summary
- The median price for all San Diego County home sales in April 2022 was $875,000. This is a 20.7 percent increase compared to April 2021.
- Detached homes saw a median price increase of 19.3 percent in San Diego County, moving from $838,438 in April 2021 to $1,000,000 in April 2022.
- Attached homes in San Diego County had a 24.6 percent median price increase compared to the previous year. They moved up to $660,500 in April 2022.
- Inventory supply countywide in April 2022 decreased from 1.0 months a year earlier to 0.8 months.