HOME PRICES JUST SLIPPED… BUT HERE’S WHAT EVERYONE MISSED

by MATT O'BRIEN, REALTOR®

San Diego Real Estate Market Update – Detached & Condo Trends

Week Ending May 4, 2025

San Diego housing activity picked up this week with a sharp rise in buyer demand. Detached home prices dipped — but pendings surged. Here's what the numbers are really saying and why this matters more than ever.

📅 Data reflects San Diego County activity for the week ending May 4, 2025

🏠 DETACHED HOMES

Buyer activity jumped 39% week-over-week, but prices dropped over 5%. Inventory is now 73% higher than last year.

Detached Summary:
Detached homes saw a big jump in buyer activity this week — pending sales climbed 39% week over week. More listings also hit the market, and inventory is now 73% higher than this time last year. But despite all that demand, prices fell. The median sold price dropped over 5% from last week, and price per square foot is down 7% compared to a year ago. Buyers are clearly engaging… but they’re also being selective.

🏢 ATTACHED HOMES (Condos & Townhomes)

Condo prices climbed 11% this week despite a dip in new listings. But days on market and inventory remain elevated.

Attached Summary:
Condo and townhome prices rebounded this week, rising 11% from last week and up 8.5% year over year. At the same time, new listings dipped slightly and pending sales rose, suggesting moderate buyer engagement. Days on market are climbing, though, and active inventory remains nearly double what it was a year ago. It’s a market where the best listings still move — but they must stand out.

💬 What This Means for You

Buyers:

Detached inventory has surged to 3,255 homes (up 73% from last year), with new listings up 10% week-over-week. While this gives you more options, be aware that pending sales jumped 39% this week, signaling increased competition. The median sold price ($1,043,800) is down 5.1% from last week, but remember this reflects negotiations from several weeks ago when homes were sitting longer. For attached properties, the median price actually rose 11% to $772,500 this week, though the 21-day median DOM suggests room for negotiation on many listings.

Sellers:

The market is showing signs of life with detached pending sales up significantly (340 homes, a 39% weekly increase), but buyers remain selective. Today's closed prices reflect offers from about a month ago when average DOM was different. With active inventory up substantially year-over-year (73% for detached, 98% for attached), competitive pricing is crucial. The 20-day median DOM for detached homes (up from 14 days last year) means your presentation and pricing strategy matter more than ever.

Homeowners:

We're in a more balanced market compared to 2024. While detached inventory has increased to 11.5 weeks of supply (up from 6.5 last year), and attached inventory sits at 16.5 weeks (up from 8), the median sold price for detached homes ($1,043,800) shows only a modest 2.9% decline year-over-year. Attached properties are actually performing well price-wise, up 8.5% from last year. Your specific situation depends on property type and location, making this an ideal time to understand where your home fits in today's evolving landscape.

🧠 Pro Tip

Don’t let the headlines distract you from your own timeline. Whether prices are up or down this week, your long-term plan should always come first. Not sure where you stand? I’ll help you crunch the numbers and see what makes sense for you.