The North County and San Diego housing markets saw more closed sales in July compared to June, but the month-over median price decreased and gains in the year-over median price were lower. Countywide, supply increased significantly compared to last year and is now at 2.4 months. This is still low compared to a “normal” market.
With July’s Consumer Price Index falling below 3 percent, we are moving closer to the Federal Reserve’s 2 percent target. Slowing inflation has experts feeling more confident that the Fed will reduce its rate in September. This should help keep mortgage rates down. Lower rates combined with slowing home price growth will help home buyers this fall and winter.
North County and San Diego Housing Markets
San Diego County as a whole had a 6.6 percent gain in the median sales price, while North County saw a 3.3 percent increase. Countywide, homes were on the market for an average of 29 days and sold for 98.9 percent of their original asking price. North County homes sold more quickly, in just 23 days on average, at 98.6 percent of asking price.
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 3.3 percent in July 2024 compared to July 2023.
- Detached homes saw a median price increase of 4.0 percent in North County, moving from $1,125,000 in July 2023 to $1,170,000 in July 2024.
- The number of sold units in North San Diego County increased 9.0 percent compared to the previous July. Pending sales rose 2.0 percent in the same period.
- Median days on market for North San Diego County properties was 23. This is a 15.0 percent increase from the previous July.
- Inventory supply in North San Diego County increased from 2.1 months in July 2023 to 2.5 months.
San Diego County Housing Summary
- The median price for all San Diego County home sales in July 2024 was $922,000. This is a 6.6 percent increase from July 2023.
- Detached homes saw a median price increase of 6.9 percent in San Diego County, moving from $990,000 in July 2023 to $1,058,275 in July 2024.
- Attached homes in San Diego County had a 9.2 percent median price increase compared to the previous year. They moved up to $700,000 in July 2024.
- Inventory supply countywide in July 2024 increased from 1.6 months a year earlier to 2.4 months.