Summer is winding down, but the real estate market is holding steady. For the first time in a while, last month’s median sales prices didn’t set any new records in North County. Still, you can see below that the median sales prices have been consistent throughout the year.
Good news for home buyers: inventory has continued to rise slowly. Between late July and late August, the number of detached homes across six North County cities increased another 10%. You can see the charts below that show the gradual increase in inventory this year.
Carlsbad – $1,850,000
All-time high: $1,930,000 – April 2022
Encinitas/Cardiff-by-the-Sea – $2,012,500
All-time high: $3,100,000 – September 2023
San Marcos – $1,200,000
All-time high: $1,275,000 – June 2024
Vista – $928,600
All-time high: $985,000 – March 2024
Oceanside – $955,000
All-time high: $1,002,500 – May 2024
Escondido – $890,000
Last all-time high: $1,040,000 – June 2024
Interest Rates
Rates went down this month, triggering more buying activity and refinancing. This past week, they have been around 6.5%. More than ever, your credit score makes a huge difference. If you’re considering buying or refinancing, start with a credit check, to make sure you can secure the best rate possible.
If you own a home, it’s probably worth more than you think. Contact me for a free personalized home valuation, or if you have any other real estate questions. I would love to hear from you!