The last quarter of 2018 brought changes to the San Diego County housing market – and hinted at more to come for 2019. While San Diego county overall continued to post year over year price gains, some areas actually saw prices decrease at the month-to-month level. CoreLogicalso reported that home sales were down more than 22% in December. They reported only 2,642 homes sold in December of 2018, compared to the 3,395 homes sold in December of 2017. This represented the largest decline for any month in eight years.
But there’s no need to panic. Since August, many experts have asserted that we are in the midst of a market correction, and that after years of a seller’s market, we’re just beginning to see buyers regain bargaining power.
San Diego County
In San Diego County, the median price for a detached single family home was up 5.7% from December 2017. This makes the median home price $645,000. The median price for townhomes and condos also increased 5% to $420,000.
In Carmel Valley, the median price for a detached home is now $1,329,000, up 6.3% since January 2018. The median price for townhomes and condos in Carmel Valley has also increased 4.2%, making the median price $625,000.
Del Mar has seen a significant increase in home prices year over year. The median price for a detached single family home has increased 11.4% since last year to $2,045,000. Condos and townhomes in Del Mar have also risen 9.5%, making the median sales price $1,127,500.
In La Jolla, sales prices for detached homes have decreased 7.6% to $2,034,650. Townhomes and condos, however have increased by 8.7% to $718,000.
The median price for a detached single family home in Solana Beach has increased 6.7% in the last 12 months. This increase makes the median price $1,600,000. Townhomes and condos have increased 14.5%, making the median price for a townhome or condo just under a million, at $967,5000.
Wondering about home prices in your city or neighborhood? Want to know what your own home may currently be worth? Contact me to receive your free San Diego area market report! And if you’ve had thoughts of selling, I’d love the opportunity to share the value I can bring to your home sale.