San Diego County jumped up to eighth position in realtor.com’s® 20 Hottest Real Estate Markets. That’s our best ranking in May since Realtor.com started comparing markets three years ago.

Real Estate Report

May’s market statistics certainly support that hot ranking. Countywide, the median sales price increased 7.9 percent compared to the previous May and the supply of available inventory fell to a meager 2.1 months.

This is wonderful for San Diego County home sellers, but rising prices are making it difficult for buyers. The California Association of Realtors reports that only 28 percent of households could afford the median priced home in the first quarter of 2016. With home prices continuing to rise, that number will most likely drop even lower.

See below for today’s interest rates.

Click on the links to read the full housing statistics reports.

Although North County saw a drop in the median sales price compared to January, and San Diego County as a whole was mostly flat, the San Diego County real estate market continued moving upward with healthy year-over price increases.

Real Estate Report

As is typical this time of year, there were more new listings on the market in February, but the number of homes going under contract, or pending, also increased. This is keeping the inventory hovering at a painfully low two months’ supply. Most experts expect to see six months’ supply in a healthy market.

The continuing low interest rates, low resale inventory, and lack of new homes being built in San Diego County has created a housing shortage. This lack of available housing is keeping upward pressure on home prices and rents. We’ve seen an increase in the number of homes being built in the county, 25 new projects this year according to the Union-Tribune. It’s still not enough to meet demand, and many of those homes are in a price range that most buyers can’t afford.

See below for today’s interest rates. Click on the links to read the full housing statistics reports.

San Diego County real estate looked strong in January with 10.5 percent year over median price increases for North County and 7.5 percent increases countywide. Interest rates continue to remain below 4 percent for many types of loans.

Real Estate Report

San Diego was ranked number five on the list of realtor.com’s® 20 Hottest U.S. Real Estate Markets in January 2016. It doesn’t look like this is going to change in the near future. January saw increases in the number of pending sales compared to both the previous month and to January 2015.

Where’s the Inventory?

Although there were many new listings in January, inventory supply is still under two months in both North County and in San Diego County as a whole. Most experts say four to six months of supply is needed for a balanced market.

See below for today’s interest rates. Click on the links to read the full housing statistics reports.