As we step into spring, San Diego’s real estate market is entering one of its busiest seasons. With longer days, warmer weather, and motivated buyers and sellers coming into the market, now is the perfect time to evaluate the latest trends and what they mean for you.
Whether you’re thinking of selling your home this spring or gearing up to buy before summer, here’s what you need to know about mortgage rates, home prices, market activity, and inventory across San Diego County in early 2025.
🌸 Home Prices Are Holding Strong This Spring
The San Diego housing market remains resilient, with home prices continuing to rise at a steady pace.
- Detached homes: The median sale price has reached $1,048,600, reflecting a 7.3% increase compared to last spring.
- Condos & townhomes: The median price now stands at $665,000, up 2.3% year-over-year.
💡 For Sellers: Spring is traditionally the best time to list, as more buyers actively search. If you’re thinking about selling, this could be your opportunity to maximize your return.
💡 For Buyers: Prices are continuing to rise, but at a more moderate pace. Spring offers fresh inventory, giving you more options—though competition can also heat up.
🌞 Mortgage Rates: Still a Key Factor for Buyers
One of the biggest market influencers this year has been mortgage interest rates. While rates have stabilized somewhat, they remain elevated compared to the historic lows of past years.
🔹 The average 30-year fixed mortgage rate in San Diego is around 6.47%.
💡 For Buyers: If you’ve been waiting for rates to drop significantly, you may want to adjust expectations. Locking in now could be a wise move before home prices climb further. Consider rate buydowns or adjustable-rate mortgages (ARMs) as alternatives.
💡 For Sellers: Higher rates affect buyer affordability, so strategic pricing and strong marketing are more important than ever to attract serious buyers.
🌷 Homes Are Selling, But with Slightly Longer Days on Market
Spring typically brings increased buyer demand, but homes are taking slightly longer to sell compared to last year.
- The average days on market (DOM) is now 31 days, up from 27 days last spring.
💡 For Sellers: Staging and curb appeal are more important than ever to make your home stand out. Spring is when buyers are actively looking, but they are also becoming more selective.
💡 For Buyers: A slightly longer DOM means you may have more negotiation power—especially if a home has been on the market for a few weeks without offers.
🏠 List Price vs. Sales Price: The Negotiation Gap
While San Diego is still a competitive market, not all homes are selling over asking price like in past years.
- The median sale-to-list price ratio is 0.995, meaning homes are selling for 99.5% of their asking price.
- 34.4% of homes are selling above asking, while 53.3% are selling below—showing that negotiation is back in play.
💡 For Buyers: If you find a home you love but think the price is high, there may be room to negotiate.
💡 For Sellers: Pricing your home correctly from the start is key. Overpricing can lead to longer market time and price reductions later.
🌼 Spring Inventory: More Choices for Buyers
The months’ supply of inventory has slightly increased to 1.9 months, meaning there are more homes available than last year—but it’s still a seller’s market overall.
💡 For Sellers: Competition is increasing, so pricing strategically and presenting your home well will help it stand out.
💡 For Buyers: Spring is a great time to buy with more homes hitting the market, but acting quickly on well-priced properties is still important.
🚀 The Spring 2025 Takeaway for Buyers & Sellers
As we move into the heart of spring, San Diego’s housing market remains strong but more balanced than previous years.
- Sellers: Spring is prime selling season! If you’re considering listing your home, now is the time to prepare.
- Buyers: More inventory and slightly longer days on market mean you may have more opportunities to find the right home.
Thinking about buying or selling this spring? Let’s connect and discuss your real estate goals!
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