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January 2022 Home Prices in San Diego County
The San Diego Association of Realtors January Report shows the median home price in San Diego County was up 19.4% over the previous year at $885,000 for detached, single-family homes. Condos were up 22.7% over the previous year at $595,000.
January 2022 Days on Market Until Sale in San Diego County
Days on the market until sale for January 2022 continued at low levels. It was 24 days on the market for single-family detached homes, down from 26 days in January 2021, and 44 Days in January 2020. For condos and duplexes, it was 20 days in January vs. 30 days in January 2021, and 40 days in January 2020.
Mortgage Rate Expectations for January in San Diego
According to data from Freddie Mac released on February 3rd, the 30 years fixed-rate mortgage stood at 3.55% (up from below 3% in November 2021, and from 3.45% in January 2022). This is driven by higher-than-expected inflation rates which have caused the Fed to signal that it will do an interest rate hike in March of 0.25 – 0.50%. In order to control inflation, the fed will also end its bond-buying operations.
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
