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North County Realtors Reports on North County Housing Market for August 2018

Vista CA— The median sales price for a detached single-family home in North San Diego County reached $755,000 in August 2018, which was 9.4 percent higher than the $690,000 price in August 2017, according to a recently released housing market report from the North San Diego County Association of Realtors (NSDCAR), a 7,000-member trade group for San Diego-area realtors. The August 2018 figure for detached homes is higher than the year-to-date median sales price of $725,000.

Carol Farrar, 2018 NSDCAR president (courtesy photo)

For attached homes, NSDCAR said the median home price in the North County was $445,500 in August 2018, which was a 2.3 percent increase compared to the $435,000 price the same month a year ago. The August 2018 figure for attached homes is lower than the year-to-date median sales price of $459,100.

“The economy is under scrutiny, but certainly not deteriorating,” said Carol Farrar, 2018 NSDCAR president. “While some housing experts are starting to look for recessionary signs like fewer sales, dropping prices and even foreclosures, others are taking a more cautious and research-based approach to their predictions. Housing starts are performing admirably, prices are still inching upward, supply remains low and consumers are optimistic.”

Additional findings from NSDCAR’s August 2018 report of residential real estate activity in North San Diego County included:

  • The average number of days for a North County home on the market (the time between when a property is listed and an offer is accepted) was 35 days for detached homes and 25 days for attached homes in August 2018. In August 2017, the numbers were 31 and 20 days, respectively. In July 2018, the numbers were 30 and 23 days, respectively.
  • Closed sales totaled 920 detached units in August 2018, which was a 15.3 percent year-over-year drop compared to the 1,086 units sold in August 2017. For attached home, closed sales totaled 348 in August 2018, a 15.3 percent decline from August 2017’s total of 411.
  • The percentage of original list price received for detached homes was 96.6 percent in August, a 0.6 percent change from 97.3 percent in August 2017. For attached homes, the percentage was 97.5 percent, a 0.8 percent difference from 98.3 percent in August 2017.
  • The number of detached property listings on the market in August reached 1,445, a 10.4 percent increase from the 1,309 properties listed in August 2017. For detached properties, 568 were listed in August, a 16.4 percent increase from the 488 properties listed in August 2017. The year-to-date totals for detached listings was 11,416 through August 2018, a 1.7 percent increase from 11,221 listings through August 2017; the year-to-date total for attached property listings was 4,135 through August, a 5.4 percent increase from the 3,922 listings through August 2017.

San Diego North County neighborhoods covered in the NSDCAR housing market report stretch northward from Carmel Valley along the coast and include Del Mar, Solana Beach, Cardiff, Encinitas, Rancho Santa Fe, Carlsbad and Oceanside, plus inland areas north of Rancho Bernardo, including Rancho Penasquitos, Poway, Escondido, Vista and San Marcos, as well as rural communities such as Ramona, Pauma Valley, Valley Center, Pala, Fallbrook and Bonsall.

With service centers in Vista, Carmel Valley, Carlsbad, Escondido and Fallbrook, NSDCAR offers San Diego County realtors access to the MLS, along with educational training, advocacy and other services and resources. For more information on NSDCAR, visit www.NSDCAR.com.