The year-over median price of homes increased last month in both the North County and San Diego housing markets after decreasing slightly in August. This may be due to September’s lower mortgage rates that came in anticipation of the Fed’s rate cut.
Due to strong economic data, and possibly the fear that both Trump and Harris’ policies could push up the national debt, rates have since pushed back up to where they were in July.
This has disappointed many home buyers who are waiting for mortgage rates to drop. But the economy is and has been stronger than people believe, and the 10-year Treasury yield, which tends to move with mortgage rates, has been moving up. Many market experts anticipate only modest declines in mortgage rates in the near future.
North County and San Diego Housing Markets
Along with year-over prices, median monthly prices grew slightly. However, inventory and days-on-market increased while home sale prices verses original asking prices dropped slightly, suggesting a slowdown in the market.
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 3.9 percent in September 2024 compared to September 2023.
- Detached homes saw a median price increase of 7.8 percent in North County, moving from $1,112,787 in September 2023 to $1,200,000 in September 2024.
- The number of sold units in North San Diego County decreased 1.0 percent compared to the previous September. Pending sales grew 8.4 percent in the same period.
- Median days on market for North San Diego County properties was 29. This is a 31.8 percent increase from the previous September.
- Inventory supply in North San Diego County increased from 2.2 months in September 2023 to 2.5 months.
San Diego County Housing Summary
- The median price for all San Diego County home sales in September 2024 was $895,000. This is a 3.8 percent increase from September 2023.
- Detached homes saw a median price increase of 5.8 percent in San Diego County, moving from $992,500 in September 2023 to $1,050,000 in September 2024.
- Attached homes in San Diego County had a 2.1 percent median price decrease compared to the previous year. They moved down to $646,000 in September 2024.
- Inventory supply countywide in September 2024 increased from 1.8 months a year earlier to 2.6 months.