The North County and San Diego housing markets were quiet in December even with mortgage rates trending down for most of the month. December tends to be a slower month for home sales, plus our ongoing shortage of homes for sale is keeping numbers low. Prices are still going up though. The year-over, median sales price increased 10.7 percent countywide and 4.5 percent in North County.
Will prices continue to climb in 2024? Realtor.com thinks so. They gave San Diego the number four spot in “The Top 10 Real Estate Markets of 2024.” And they’re forecasting a 5.4 percent increase in home prices here this year.
San Diego price growth was strong in 2023 also. Even though home movers are seeing more people move out of San Diego than into the area, the Case-Shiller Index lists San Diego as continuing to have the second highest price growth in the country.
North County and San Diego Housing Markets
December’s available home supply remained at 3.5 months countywide and dropped to only 1.2 months in North County with homes selling in about 30 days in both markets. Countywide, the median price increases of both attached and detached homes were close to 10 percent. But, in North County, where prices are higher, detached homes increased by just 2.5 percent while attached homes jumped up 20 percent.
See below for this month’s statistics and daily interest rate updates, and if you’d like to know the value of your home, just let me know. I’ll send you a free home valuation.
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
- 2023 SAN DIEGO COUNTY MARKET REPORT
North County Housing Summary
- The median price for all North County home sales increased 4.5 percent in December 2023 compared to December 2022.
- Detached homes saw a median price increase of 2.5 percent in North County, moving from $970,000 in December 2022 to $994,000 in December 2023.
- The number of sold units in North San Diego County decreased 15.8 percent compared to the previous December. Pending sales dropped 9.0 percent in the same period.
- Median days on market for North San Diego County properties was 29. This is a 14.7 percent decrease from the previous December.
- Inventory supply in North San Diego County decreased from 1.8 months to 1.2 months.
San Diego County Housing Summary
- The median price for all San Diego County home sales in December 2023 was $835,750. This is a 10.7 percent increase from December 2022.
- Detached homes saw a median price increase of 9.7 percent in San Diego County, moving from $865,000 in December 2022 to $949,000 in December 2023.
- Attached homes in San Diego County had a 11.1 percent median price increase compared to the previous year. They moved up to $650,000 in December 2023.
- Inventory supply countywide in December 2023 increased from 1.4 months a year earlier to 3.5 months.