North San Diego Coastal Region Home Prices Trends

North San Diego Coastal Region Home Prices Trends

  • Jim Klinge
  • 06/3/21
 
Hey Jim – did you say home prices went up 9% in one month?
 
No, the NSDCC median sales price went up 9%, and there’s a difference.
 
Here’s a look at the mix of homes between La Jolla and Carlsbad that sold in their respective months:
 
Month, Year
Total # of Sales
Avg SF
Median SF
# Sales Under $1M
# Sales Over $3M
May, 2019
297
2,980sf
2,686sf
71
26
May, 2020
143
2,981sf
2,759sf
30
11
April, 2021
357
3,339sf
2,881sf
14
71
May, 2021
295
3,542sf
3,029sf
9
 
More of the larger homes are selling.
 
The NSDCC Median Sales Price in May increased 9% over April, but the median size went up 5% too.
 
It’s probably too simple to calculate 9% – 5% = 4% but the local annual appreciation has been at least 30% lately so a month-over-month increase of 3% to 4% in the hottest months of the year seems reasonable.
 
Though the May sales will be down 10%, the number of sales over $3,000,000 went up 11% in one month!
 
 
North San Diego Coastal Region Home Prices Trends
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