San Diego, CA
Housing Market
San Diego's housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into San Diego's supply and demand trends. Our report equips you with the information you require to make well-informed decisions.
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Buy or SellSan Diego Housing Market Overview
San Diego real estate trends have indicated a highly competitive market in recent months. Median home prices in San Diego have increased by 4.8% compared to last year and reached $985,500. Properties typically stay on the market for only 27 days before they go under contract. Additionally, 696 homes were sold this month, a 6.5% decline from last year, which signals slow momentum.
The housing market in San Diego is a mix of luxury high-rise condos, single-family homes, and historic properties, with options across budgets and lifestyles. Over the years, the city has experienced steady property value appreciation, with demand fueled by population growth, favorable tax conditions, and strong rental yields. San Diego’s real estate market remains a key driver of California's economy. Known for the stunning Pacific coastline in Southern California as well as its year-round warm weather, the city attracts both domestic and international buyers.
The housing market in San Diego is a mix of luxury high-rise condos, single-family homes, and historic properties, with options across budgets and lifestyles. Over the years, the city has experienced steady property value appreciation, with demand fueled by population growth, favorable tax conditions, and strong rental yields. San Diego’s real estate market remains a key driver of California's economy. Known for the stunning Pacific coastline in Southern California as well as its year-round warm weather, the city attracts both domestic and international buyers.
Median Sale Price
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San Diego
San Diego Housing Supply
San Diego is a hot market for real estate investors due to the high demand it sees. Moreover, its 70 miles of pristine beaches and idyllic climate attract countless residents. The available homes for sale in San Diego has increased to 1,385—a near 10% YoY rise. This uptick includes 150 fresh listings. Buyers can benefit from this increase in San Diego’s housing inventory. On the whole, the San Diego housing supply currently stands at only 2 months citywide, which indicates a highly competitive market.
However, San Diego's housing supply shifts according to the season and migration trends. During spring and summer, the market sees a surge in home listings. Both sellers and buyers are active, hoping to close before the school year starts, or the season shifts toward winter. The city offers a mix of urban convenience and pleasant weather, which also drives its cost of living up. As a result, home prices here are twice the national median. If you’re buying a home in San Diego right now, you are likely to face high competition across neighborhoods. Residents remain willing to pay premium prices, which is often referred to as the 'sunshine tax'. As a buyer, make sure to thoroughly inspect potential properties before you commit. You can also request seller concessions or wait till the prices subside.
However, San Diego's housing supply shifts according to the season and migration trends. During spring and summer, the market sees a surge in home listings. Both sellers and buyers are active, hoping to close before the school year starts, or the season shifts toward winter. The city offers a mix of urban convenience and pleasant weather, which also drives its cost of living up. As a result, home prices here are twice the national median. If you’re buying a home in San Diego right now, you are likely to face high competition across neighborhoods. Residents remain willing to pay premium prices, which is often referred to as the 'sunshine tax'. As a buyer, make sure to thoroughly inspect potential properties before you commit. You can also request seller concessions or wait till the prices subside.
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San Diego
San Diego Housing Demand
The San Diego real estate market has shown decreased competition recently, with 36.8% of homes selling above their list price. Meanwhile, 32.9% of homes sold below the asking price, a 14 percentage point increase from last year. The sale-to-list price ratio has reached 99.8% in recent months. This means that sellers now get almost exactly the price they set for properties. This ratio essentially determines which party will have better negotiation power in the market.
As a home seller, if you initially price your house accurately, you can avoid the need for price reductions. You can also offer concessions to buyers if you want to sell your home quickly. You can also list your home on the California MLS to find buyers quickly. If the sale-to-list price ratio is around 100% and demand is high, expect to get multiple offers from buyers. If you’re buying a house in San Diego, CA, you can focus on houses with extended listing periods. Properties with previous price reductions can give you more room for negotiation.
As a home seller, if you initially price your house accurately, you can avoid the need for price reductions. You can also offer concessions to buyers if you want to sell your home quickly. You can also list your home on the California MLS to find buyers quickly. If the sale-to-list price ratio is around 100% and demand is high, expect to get multiple offers from buyers. If you’re buying a house in San Diego, CA, you can focus on houses with extended listing periods. Properties with previous price reductions can give you more room for negotiation.
Homes Sold Above List Price
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Strong
Buyer
Buyer
Balanced
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Strong
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
San Diego Housing Market: When to Buy or Sell?
San Diego’s housing market has historically cycled between buyer-friendly and seller-friendly conditions. The San Diego real estate market is highly competitive, much like the California housing market; it can favor both buyers and sellers as per seasonal trends. When competition is low with increased inventory, buyers have more negotiation opportunities. Contrarily, sellers can benefit from higher prices and quicker sales when demand outpaces supply.
Moreover, if the months of San Diego’s housing supply rise above the balanced conditions of the US real estate market (5 to 6 months), it gives buyers more time to consider their options. Sellers can receive multiple offers on their homes when the months of supply are around 2-3 months. Knowledge of these market forces can help you strategically time your purchase or sale.
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Frequently Asked Questions
How have San Diego house prices changed over the past year?
The median price of homes in San Diego have continued to rise over the past years at an average growth rate of 4.8%, with multiple regions seeing double-digit percentage growth. You can check your home’s fair market value with our free home value estimator to decide on your initial asking price.
What are the San Diego real estate predictions for 2025?
San Diego home prices will start to drop soon. State-wide prices are currently up by 6.4% YoY, and demand has diminished widely in California. Buyers and sellers can both take advantage of the market shift. However, higher prices and rising mortgage rates will make it difficult to find affordable housing.
What’s the average home price in San Diego?
The average house price in San Diego varies depending on the type, size, and local market conditions. It typically ranges from $645,500 for condos to $1,294,500 for single-family homes. If you want to buy a house in the city, you can find cheap homes for sale in San Diego within your budget.
Is this a good time to buy a home in San Diego, CA?
Assess San Diego real estate market trends regarding housing prices and inventory. This will help you understand whether it’s a buyer’s or seller’s market. Sellers can benefit from high demand and rising prices. However, if the mortgage rates are stable, demand is low, and housing inventory is plentiful, it’ll be the best time to buy homes in San Diego.
Where can I check San Diego housing market trends?
The housing market in San Diego grows all year round. Housing demand as well as competition tends to remain high. Properties tend to stay for fewer days than average on the market. If you want to buy a house in San Diego, you can check the city’s housing market trends to decide on the right time to invest.
When will the San Diego housing market crash?
As per housing market forecasts, it's very unlikely that the market will crash. Home prices and demand may increase during the summer, with sustained growth projected through 2025.
How to buy a home in San Diego?
The steps to purchasing a house in San Diego must start with a clear budget and mortgage pre-approval. Buyers should then search for homes for sale in San Diego, submit offers, secure loans, and complete the closing process.
How can I list my home for sale in San Diego, CA?
You can list your San Diego home with a Flat Fee MLS California listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
What is the average mortgage rate for buyers in San Diego?
The state-wide average mortgage rate for buyers fluctuates between 6.8% and 7%. It depends on the market and the borrower's credit score. Always check current rates with lenders.
What is the average cost of living in San Diego?
The cost of living in San Diego, California is 43% higher than the national average and 4% higher than the state average. Housing alone is 115% higher than the national average. The typical single-family home in San Diego costs $1.3M with regional price variations. Necessities such as food, clothing, and groceries are around 15% higher than the US median. You can check your region’s cost of living with our free San Diego cost of living calculator.
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