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July 2021 Home Prices in San Diego County
According to a Wall Street Journal article, the median U.S. home price for July was $363,300 (23.4% year-on-year increase).
The San Diego Association of Realtors July Report shows the median home price in San Diego County was up 20.7% over the previous year at $879,000 (down slightly from the June 2021 figure of $879,000) for detached, single-family homes. Condos were up 18% over the previous year at $550,000 (down from $553,500 in June 2021).
Overall sales were down versus the previous year.
July 2021 Days on Market Until Sale in San Diego County
Days on the market until sale for July 2021 continued at low levels. It was 18 days on the market for single-family detached homes, down from 28 days in August 2020. For condos and duplexes, it was 18 days in June vs. 29 days in August 2020.
Mortgage Rate Expectations for August in San Diego
According to data from Freddie Mac released on August 12th, the 30 years fixed-rate mortgage stood at 2.87%, down slightly from early July. Rates continue to remain low, but some buyers are being priced out of the market as home prices continue to climb. Freddie Mac expects rates to remain around 3% even as the economic recovery will start putting upward pressure on rates.
For Home Sellers in San Diego
With fewer homes available and the number of buyers at an all-time high, there has never been a better time to consider selling your house.
If you would like to get a free valuation of your home call me at 619-417-0774 or email me.
Note: Charts are courtesy of the San Diego Assoc. of Realtors and Freddie Mac
