North County and San Diego real estate markets saw solid price growth along with strong sales and tight inventory in January. Due to the market upturn in the last half of 2019, experts think that as long as interest rates and inventory stay low we’ll see a one to four percent growth in home prices this year. San Diego markets have fared well with prices here rising more than in other West Coast markets that usually show higher gains.

North County and San Diego Real Estate Markets

North County’s year-over median price increased 6.6 percent in January compared to the previous year. Countywide, the median price increased 7.9 percent. Pending and closed sales rose in both markets while new listings dropped by close to 20 percent.

If you’re looking to sell your home, this is a great time to take advantage of the low inventory and strong market. If you are planning on buying, lower interest rates are making it more affordable, but finding the right home will require patience and diligence.

See below for this month’s statistics and daily interest rate updates.

December brought moderate price increases to both North County and San Diego real estate markets. This lines up with the Freddie Mac end of year forecast which predicts modest but slowing growth in the housing market in 2020 and 2021. That’s good news compared to previous predictions, but business leaders are still expecting an economic slowdown by the end of 2020 with 97% of CFOs saying a downturn has already begun or will by the end of this year.

For more information on where the real estate market is headed, see my 2020 Real Estate Market Forecast.