Although month-over numbers do show some signs of softening, the North County and San Diego housing markets had strong year-over price gains in June. And with today’s inflation easing CPI report and recent jobs report, mortgage rates are now below 7 percent.
Those lower interest rates may push more buyers off the fence. If home sellers join them and bring more inventory onto the market, it may be a win-win for everyone. But, if the number of homes on the market stays low, we could move back into the very competitive market we saw this spring.
North County and San Diego Housing Markets
The year-over median sales price grew 10.5 percent countywide and 11.5 percent in North County, and although San Diego County saw a month-over increase in the median sales price, North County did not. Inventory crept up to slightly over 2 months. Countywide, homes sold for 99.5 percent of their list price after having sold at over 100 percent of list price for the last three months. But it’s still a seller’s market with homes selling in under one month on average.
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 11.5 percent in June 2024 compared to June 2023.
- Detached homes saw a median price increase of 13.9 percent in North County, moving from $1,097,000 in June 2023 to $1,249,000 in June 2024.
- The number of sold units in North San Diego County decreased 9.8 percent compared to the previous June. Pending sales dropped 1.6 percent in the same period.
- Median days on market for North San Diego County properties was 22. This is a 29.4 percent increase from the previous June.
- Inventory supply in North San Diego County increased from 2.1 months in June 2023 to 2.4 months.
San Diego County Housing Summary
- The median price for all San Diego County home sales in June 2024 was $950,000. This is a 10.5 percent increase from June 2023.
- Detached homes saw a median price increase of 9.1 percent in San Diego County, moving from $999,999 in June 2023 to $1,091,000 in June 2024.
- Attached homes in San Diego County had a 7.5 percent median price increase compared to the previous year. They moved up to $698,500 in June 2024.
- Inventory supply countywide in June 2024 increased from 1.5 months a year earlier to 2.3 months.