Higher mortgage rates, along with elevated sales prices and a lack of housing inventory, have continued to impact market activity during the summer homebuying season. The average 30-year fixed-rate mortgage has remained above 6.5% since May, recently hitting a two-decade high in August,
according to Freddie Mac. As a result, existing-home sales have continued to slow nationwide, dropping 2.2% month-over-month as of last measure, with sales down 16.6% compared to the same time last year, according to the National Association of REALTORS® (NAR).
Falling home sales have done little to cool home prices, however, which have continued to sit at record high levels nationally thanks to a limited supply of homes for sale. According to NAR, there were 1.11 million homes for sale heading into August, 14.6% fewer homes than the same period last year, for a
3.3 months’ supply at the current sales pace. The shortage of homes for sale has boosted competition for available properties and is driving sales prices higher, with NAR reporting a national median existing-home price of $406,700, a 1.9% increase from a year earlier.
North County Overview:
- Closed Sales decreased 12.1 percent for Detached homes and 19.6 percent for Attached homes.
- Pending Sales decreased 21.7 percent for Detached homes and 16.7 percent for Attached homes.
- The Median Sales Price was up 14.0 percent to $1,127,150 for Detached homes and 8.6 percent to $730,000 for Attached homes.
- Days on Market decreased 8.3 percent for Detached homes and 22.7 percent for Attached homes.
- Supply decreased 29.2 percent for Detached homes and 38.1 percent for Attached homes.
City Overview: Holding fairly steady with regard to Price, Days on Market, number of sold and active listings.
Carlsbad
| Month | Avg Sold $ | Chg | DOM | Chg | Sold Homes | Chg | Act. Listings | Chg | % List Price | YoY Chg |
| 08/23 | $1,815,000 | -2% | 15 | 7% | 191 | 7% | 104 | 1% | 99.6% | 0.7% |
| 07/23 | $1,861,000 | -3% | 14 | 0% | 179 | 15% | 103 | 6% | 100.0% | 2.2% |
| 06/23 | $1,920,000 | 1% | 14 | -26% | 156 | -3% | 97 | 23% | 100.3% | 3.0% |
| 05/23 | $1,900,000 | 6% | 19 | -17% | 161 | 15% | 79 | 22% | 100.0% | 2.4% |
| 04/23 | $1,793,000 | 8% | 23 | -26% | 140 | 9% | 65 | 5% | 98.4% | -0.8% |
| 03/23 | $1,657,000 | 4% | 31 | 0% | 128 | 35% | 62 | -2% | 96.9% | 0.8% |
| 02/23 | $1,594,000 | -0% | 31 | 11% | 95 | -17% | 63 | -19% | 95.5% | 5.1% |
| 01/23 | $1,598,000 | -2% | 28 | 0% | 114 | -10% | 78 | -21% | 95.9% | 4.1% |
| 12/22 | $1,623,000 | 2% | 28 | -7% | 127 | -19% | 99 | -14% | 94.4% | 4.9% |
| 11/22 | $1,587,000 | -2% | 30 | 0% | 156 | -4% | 115 | -9% | 94.0% | 3.1% |
| 10/22 | $1,614,000 | -5% | 30 | 25% | 162 | -14% | 127 | -16% | 94.9% | 5.0% |
| 09/22 | $1,703,600 | -5% | 24 | 41% | 188 | -12% | 151 | -11% | 95.8% | 14.3% |
| 08/22 | $1,802,279 | -1% | 17 | 42% | 213 | -4% | 169 | 1% | 98.9% | 22.4% |
| 07/22 | $1,821,026 | -2% | 12 | 20% | 223 | -4% | 167 | 19% | 102.8% | 27.6% |
| 06/22 | $1,863,624 | 0% | 10 | 0% | 233 | 4% | 140 | 37% | 106.7% | 29.5% |
| 05/22 | $1,855,969 | 3% | 10 | -17% | 223 | 6% | 102 | 36% | 109.4% | 26.2% |
| 04/22 | $1,807,471 | 10% | 12 | -20% | 210 | 12% | 75 | 9% | 109.5% | 23.3% |
| 03/22 | $1,643,465 | 8% | 15 | -12% | 187 | -6% | 69 | -5% | 107.4% | 16.1% |
| 02/22 | $1,516,065 | -1% | 17 | 6% | 198 | -14% | 73 | -17% | 104.4% | 20.7% |
| 01/22 | $1,535,059 | -1% | 16 | 0% | 231 | -17% | 88 | -15% | 103.0% | 30.4% |
Encinitas
| Month | Avg Sold $ | Chg | DOM | Chg | Sold Homes | Chg | Act. Listings | Chg | % List Price | YoY Chg |
| 08/23 | $2,640,000 | 3% | 21 | -5% | 82 | 0% | 48 | 7% | 100.0% | -1.1% |
| 07/23 | $2,560,000 | 1% | 22 | 16% | 82 | -1% | 45 | 0% | 99.7% | -3.4% |
| 06/23 | $2,523,000 | 1% | 19 | -21% | 83 | 2% | 45 | 2% | 98.7% | -2.7% |
| 05/23 | $2,496,000 | -4% | 24 | -11% | 81 | 31% | 44 | 13% | 98% | -3.7% |
| 04/23 | $2,592,000 | 2% | 27 | -18% | 62 | 19% | 39 | 3% | 97.1% | 6.4% |
| 03/23 | $2,542,000 | 22% | 33 | -8% | 52 | 0% | 38 | -16% | 94.9% | 17.2% |
| 02/23 | $2,077,000 | 2% | 36 | 13% | 52 | 0% | 45 | -4% | 92.2% | 1.2% |
| 01/23 | $2,028,000 | -10% | 32 | -3% | 52 | -15% | 47 | -10% | 93.4% | -5.9% |
| 12/22 | $2,255,000 | -4% | 33 | 18% | 61 | -5% | 52 | -5% | 92.5% | 1.3% |
| 11/22 | $2,343,000 | -6% | 28 | -10% | 64 | -7% | 55 | 4% | 93.4% | 3.9% |
| 10/22 | $2,505,000 | -4% | 31 | 11% | 69 | 1% | 53 | -5% | 93.2% | 10.3% |
| 09/22 | $2,604,000 | -2% | 28 | 40% | 68 | -3% | 56 | -3% | 94.4% | 13.3% |
| 08/22 | $2,668,944 | 1% | 20 | 54% | 70 | -17% | 58 | 4% | 98.1% | 25.6% |
| 07/22 | $2,650,404 | 2% | 13 | 0% | 84 | -18% | 56 | 14% | 103.1% | 31.3% |
| 06/22 | $2,592,614 | 0% | 13 | -19% | 103 | -9% | 49 | 20% | 105.6% | 31.3% |
| 05/22 | $2,590,593 | 6% | 16 | 7% | 113 | 18% | 41 | 21% | 106.7% | 30.1% |
| 04/22 | $2,435,887 | 12% | 15 | -25% | 96 | 12% | 34 | -6% | 106.9% | 24.8% |
| 03/22 | $2,169,582 | 6% | 20 | -9% | 86 | 8% | 36 | -14% | 104.7% | 17.3% |
| 02/22 | $2,052,570 | -5% | 22 | -19% | 80 | -7% | 42 | -19% | 103.1% | 17.5% |
| 01/22 | $2,155,319 | -3% | 27 | 13% | 86 | -7% | 52 | -13% | 101.8% | 27.7% |
Oceanside
| Month | Avg Sold $ | Chg | DOM | Chg | Sold Homes | Chg | Active Listings | Chg | % List Price | YoY Chg |
| 08/23 | $971,000 | -0% | 14 | 0% | 259 | 7% | 103 | -7% | 101.5% | 4.9% |
| 07/23 | $974,000 | -2% | 14 | -22% | 243 | 3% | 111 | 10% | 102.1% | -0.6% |
| 06/23 | $997,000 | 1% | 18 | -33% | 236 | 2% | 101 | 6% | 101.1% | 2.6% |
| 05/23 | $988,000 | 0% | 27 | -18% | 232 | 12% | 95 | 17% | 100% | 0.9% |
| 04/23 | $984,000 | 7% | 33 | -11% | 208 | 7% | 81 | -21% | 98.5% | 5.6% |
| 03/23 | $923,000 | -2% | 37 | 9% | 194 | 10% | 103 | -18% | 97.2% | 3.0% |
| 02/23 | $938,000 | 1% | 34 | 0% | 176 | -7% | 125 | -15% | 96.1% | 14.0% |
| 01/23 | $933,000 | -0% | 34 | 17% | 190 | -16% | 147 | -15% | 95.2% | 9.5% |
| 12/22 | $934,000 | 3% | 29 | 4% | 225 | -11% | 173 | -9% | 95.3% | 9.8% |
| 11/22 | $911,000 | 3% | 28 | 12% | 254 | -14% | 190 | -2% | 95.4% | 3.9% |
| 10/22 | $885,000 | -2% | 25 | 4% | 296 | -2% | 193 | -6% | 97.4% | 6.3% |
| 09/22 | $904,283 | -2% | 24 | 33% | 303 | -1% | 206 | -8% | 96.8% | 11.3% |
| 08/22 | $926,014 | -5% | 18 | 38% | 307 | -4% | 223 | 2% | 99.1% | 15.5% |
| 07/22 | $979,524 | 1% | 13 | 18% | 321 | -17% | 218 | 14% | 102.3% | 23.2% |
| 06/22 | $971,761 | -1% | 11 | -15% | 385 | -9% | 191 | 24% | 104.8% | 21.9% |
| 05/22 | $979,346 | 5% | 13 | -13% | 421 | 9% | 154 | 18% | 105.8% | 25.8% |
| 04/22 | $931,893 | 4% | 15 | -12% | 386 | 21% | 130 | 5% | 105.7% | 21.6% |
| 03/22 | $896,065 | 9% | 17 | 6% | 318 | -2% | 124 | -5% | 104.7% | 19.7% |
| 02/22 | $823,005 | -3% | 16 | 7% | 324 | -11% | 130 | -10% | 103.1% | 18.4% |
| 01/22 | $852,143 | 0% | 15 | 7% | 364 | -15% | 144 | -7% | 102.9% | 24.9% |
San Marcos
| Month | Avg Sold $ | Chg | DOM | Chg | Sold Homes | Chg | Active Listings | Chg | % List Price | YoY Chg |
| 08/23 | $1,185,000 | -0% | 18 | -14% | 125 | 1% | 39 | 5% | 101.1% | 7.9% |
| 07/23 | $1,186,000 | 3% | 21 | 11% | 124 | -6% | 37 | -12% | 100.6% | 3.8% |
| 06/23 | $1,154,000 | 3% | 19 | -5% | 132 | 5% | 42 | 5% | 100.1% | 4.9% |
| 05/23 | $1,123,000 | 1% | 20 | -29% | 126 | 13% | 40 | -9% | 99.3% | 3.4% |
| 04/23 | $1,113,000 | 9% | 28 | -20% | 112 | 8% | 44 | -19% | 98.7% | 5.6% |
| 03/23 | $1,017,000 | 2% | 35 | -3% | 104 | 16% | 54 | -17% | 97.3% | -1.9% |
| 02/23 | $996,000 | 2% | 36 | 24% | 90 | -14% | 65 | -14% | 95.5% | 1.5% |
| 01/23 | $972,000 | 2% | 29 | 7% | 105 | -15% | 76 | -16% | 95.2% | -2.1% |
| 12/22 | $951,000 | -2% | 27 | 8% | 123 | -22% | 90 | -11% | 94.6% | -1.0% |
| 11/22 | $974,000 | -1% | 25 | 9% | 158 | -3% | 101 | -6% | 95.0% | 2.8% |
| 10/22 | $985,000 | -6% | 23 | 10% | 163 | -8% | 107 | -8% | 95.8% | 6.4% |
| 09/22 | $1,047,000 | -5% | 21 | 31% | 177 | -3% | 116 | -6% | 96.9% | 11.5% |
| 08/22 | $1,098,000 | -4% | 16 | 23% | 183 | -11% | 123 | 6% | 99.8% | 13.8% |
| 07/22 | $1,143,000 | 4% | 13 | 8% | 205 | -8% | 116 | 20% | 102.9% | 17.7% |
| 06/22 | $1,100,617 | 1% | 12 | 0% | 222 | -1% | 97 | 28% | 105.0% | 14.8% |
| 05/22 | $1,085,769 | 3% | 12 | 0% | 224 | 11% | 76 | 13% | 106.7% | 19.0% |
| 04/22 | $1,053,808 | 2% | 12 | 0% | 201 | 10% | 67 | 8% | 107.3% | 18.6% |
| 03/22 | $1,036,353 | 6% | 12 | 0% | 183 | -4% | 62 | 3% | 106.9% | 24.5% |
| 02/22 | $981,319 | -1% | 12 | -20% | 190 | -6% | 60 | -5% | 105.0% | 21.0% |
| 01/22 | $993,196 | 3% | 15 | 0% | 203 | -11% | 63 | -7% | 103.0% | 26.5% |
Vista
| Month | Avg Sold $ | Chg | DOM | Chg | Sold Homes | Chg | Active Listings | Chg | % List Price | YoY Chg |
| 08/23 | $998,000 | 2% | 16 | 7% | 170 | 16% | 84 | 2% | 101.4% | 8.7% |
| 07/23 | $982,000 | 2% | 15 | -6% | 147 | 20% | 82 | 6% | 102.1% | 7.6% |
| 06/23 | $964,000 | 3% | 16 | -20% | 123 | -8% | 77 | 38% | 100.2% | 1.6% |
| 05/23 | $936,000 | 0% | 20 | -13% | 134 | 8% | 56 | 10% | 99.3% | -1.0% |
| 04/23 | $935,000 | 8% | 23 | -21% | 124 | -6% | 51 | -16% | 98.7% | 0.9% |
| 03/23 | $863,000 | 3% | 29 | -17% | 132 | 27% | 61 | -10% | 97.5% | -3.7% |
| 02/23 | $835,000 | 2% | 35 | -3% | 104 | -10% | 68 | -22% | 95.3% | -5.5% |
| 01/23 | $820,000 | -1% | 36 | 20% | 116 | -6% | 87 | -19% | 94.2% | -7.2% |
| 12/22 | $828,000 | -3% | 30 | 11% | 124 | -24% | 107 | -18% | 95.3% | -3.6% |
| 11/22 | $851,945 | -6% | 27 | 17% | 163 | -11% | 131 | -11% | 95.9% | 2.2% |
| 10/22 | $906,273 | -0% | 23 | 21% | 183 | -9% | 147 | -10% | 96.6% | 13.6% |
| 09/22 | $910,549 | -1% | 19 | 19% | 201 | 3% | 163 | 3% | 97.4% | 15.3% |
| 08/22 | $918,464 | 1% | 16 | 33% | 196 | -14% | 159 | 10% | 98.6% | 18.5% |
| 07/22 | $913,029 | -4% | 12 | 9% | 227 | -12% | 144 | 21% | 101.7% | 18.4% |
| 06/22 | $948,425 | 0% | 11 | 10% | 258 | -3% | 119 | 24% | 105.5% | 24.0% |
| 05/22 | $945,910 | 2% | 10 | -9% | 267 | 12% | 96 | 17% | 107.0% | 25.8% |
| 04/22 | $926,864 | 3% | 11 | -21% | 238 | 11% | 82 | 15% | 107.4% | 28.8% |
| 03/22 | $896,549 | 1% | 14 | -13% | 214 | -3% | 71 | 9% | 104.8% | 30.0% |
| 02/22 | $883,560 | -0% | 16 | -6% | 220 | -8% | 65 | -12% | 103.4% | 34.0% |
| 01/22 | $883,907 | 3% | 17 | 0% | 240 | -3% | 74 | -17% | 102.6% | 31.6% |
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