Although prices dropped for a second month in a row in the North County and San Diego real estate markets, experts don’t expect a big slowdown anytime soon. Year-over median prices were still up 15 percent in August, and countywide inventory crept back down to less than a month.
Continue reading North County and San Diego Real Estate Markets September 2021
The North County and San Diego real estate markets are still hot, but it looks like a cool down might be starting.
Continue reading August 2021 North County and San Diego Real Estate Markets
The North County and San Diego real estate markets are still seeing record breaking price growth, multiple offers over asking price and homes selling in just days. Compared to May, home prices were higher and market times were shorter, but inventory did grow very slightly.
Continue reading July 2021 North County and San Diego Real Estate Markets
Prices saw incredible growth in North County and San Diego real estate markets in May with North County jumping almost 34 percent year-over and San Diego County gaining 28.4 percent. But while closed sales were significantly higher than the previous May, they didn’t keep up with April’s numbers.
Continue reading June 2021 North County and San Diego Real Estate Markets
Reports of March’s record-breaking price increases are all over the news right now. But did you know that in the North County and San Diego real estate markets home prices grew even faster in April?
Continue reading May 2021 North County and San Diego Real Estate Markets
Just when we thought the number of homes for sale in the North County and San Diego real estate markets couldn’t go any lower, it has. Normally as we enter spring, inventory starts to move up. This year it has dropped. This is putting more pressure on an already red-hot market.
Continue reading April 2021 North County and San Diego Real Estate Markets
Last year we couldn’t find toilet paper to buy. This year we can’t find homes. In December, the North County and San Diego real estate markets had the fewest homes for sale we’ve seen since December 2001. To make things worse, the situation didn’t improve in January or February. This incredibly tight inventory combined with historically low interest rates and a lot of pent-up demand has created a red-hot market.
Continue reading March 2021 North County and San Diego Real Estate Markets
The North County and San Diego markets remained very tight in January. There were few new listings and very little existing inventory. Continued low interest rates and pent-up demand are keeping buyers in the market.
These factors are pushing up home prices. In fact, the S & P CoreLogic Case-Shiller Indices show that in November, we had the highest monthly price gains we’ve seen in six years. And they expect pressure on prices to continue for at least the first six months of 2021.
The year-over median price was up 14.2 percent in North County and 9.2 percent in San Diego County overall. New listings dropped sharply, but while North County saw fewer pending and closed sales compared to the previous year, the county as a whole had increases in both. Supply remained very low in all areas with less than one month’s inventory. This continues to make the market a great one for home sellers and a difficult one for home buyers.
See below for this month’s statistics and daily interest rate updates.
Continue reading February 2021 North County and San Diego Real Estate Markets
Although year-over activity slowed down in December in the San Diego real estate market as a whole, North County stayed busy through the holidays. The recent trend of stay-at-home workers moving to the suburbs may be the cause.
Even though there was some holiday slowdown, all San Diego markets saw strong price increases, shrinking inventory and shorter market times in December. CoreLogic expects this trend to continue and affordability to drop due to the large number of new households being created by Gen Xers and Millennials. And realtor.com ranks the San Diego County market at number 18 of its “100 Top Housing Markets of 2021.”
Year-over prices were up 14.7 percent countywide and 17.4 percent in North County. Inventory dropped significantly, and market times were over 40 percent shorter. San Diego County saw fewer pending and closed sales in December, while North County showed increases in both compared to the previous year.
See below for this month’s statistics and daily interest rate updates.
Continue reading January 2021 North County and San Diego Real Estate Markets
While quite busy in October, the North County and San Diego real estate markets did see some slowdown in November. But because new listings dropped more than pending listings and sales, inventory levels plummeted. They’re lower now than I can ever remember seeing. This severely limited inventory paired with historically low interest rates has created an incredibly competitive market for home buyers. Due to these factors, we continued to see strong year-over price gains.
The California Association of Realtors 2021 Housing Market Forecast projects that this inventory shortage will continue, but price increases will be more moderate. They expect interest rates to stay just above three percent, and home sales to increase slightly in 2021.
Year-over, median prices were up 10.7 percent countywide and 11.6 percent in North County. Inventory dropped by about 50 percent compared to the previous year, and market times were very short. New listings, pending sales and closed sales dropped countywide. The same was true in North County, but closed sales saw a 10.5 percent gain.
See below for this month’s statistics and daily interest rate updates.
Continue reading December 2020 North County and San Diego Real Estate Markets