Home Prices In North County Decline, Sales Volume Down, Home Inventory Is Up!

The May 2014 housing report is in.

Single Family Detached homes (SFD) in North County decreased 1.49 percent to $562,500 in May 2014 compared to $571,000 in April 2014. Year-over median price for SFD homes in North San Diego County increased 1.26 percent, compared to $555,500 in May 2013, continuing 22-months of sustained year-over median price increases. 

SFD total sales volume decreased 18.29 percent year-over, compared to May 2013.

SFD listings (active and contingent) in North San Diego County increased 10.13 percent in May 2014 from April 2014, and increased 28.39 percent year-over compared to May 2013. 

This is all an indication of the market in San Diego North County slowing down. Which is common as we approach the end of summer. Not so much for May. Interest rates still remain low coming in around the 4% range. 

My personal belief is that the real estate market is at a bit of a slow down due to the fact that the median sales price for homes in San Diego North County are pretty much back to where they where at the peak of the real estate market in 2007. It will be interesting to see where home values go from here.

Cheers,

By James Baxter

Encinitas Realtor

Information taken from HomeDex™ Copyright © 2014 by the

North San Diego County Association of Realtors (NSDCAR).  Used by permission.