January to April 2025 | Price Segment Breakdown
Market Snapshot: Low Flow, High Pressure
Since January, the San Diego real estate market has been like a pressure cooker: low inventory, steady demand, and stable prices. With 30-year mortgage rates hovering around 6.75%, many homeowners are reluctant to list and trade up. As local market economist Steven Thomas puts it, “This isn’t a crash—it’s a freeze. Sellers are stuck in golden handcuffs.”
Quick Stats – Countywide (Jan–Apr 2025)
Median Price: $880K (▲ 4.2%)
Homes Sold: ~2,134 (▼ 12.6%)
Average Days on Market: 24 days (▼ 18%)
Active Listings: ~3,900 (▼ ~40% vs 2017–19)
Foreclosures: Negligible
Market Behavior by Price Segment
💵 $0–$1M: Highly competitive market with first-time buyers in the lead. Limited listings lead to multiple offers.
Days on Market: 17 days
Price Change: ▲ 4.3%
Inventory Share: 36%
Buyer Energy: 🔥 Strong
🧱 $1M–$2M: Key move-up tier with high absorption. Minimal negotiation room.
Days on Market: 21 days
Price Change: ▲ 3.8%
Inventory Share: 29%
Buyer Energy: 🔥 Strong
🧩 $2M–$4M: Balanced market with good-quality homes selling well. Some leverage for buyers.
Days on Market: 33 days
Price Change: ▲ 3.2%
Inventory Share: 22%
Buyer Energy: ⚖️ Balanced
🏛️ $4M–$6M: Noticeable slowdown. Listings sit unless priced aggressively.
Days on Market: 45 days
Price Change: ▲ 2.5%
Inventory Share: 8%
Buyer Energy: 🧊 Soft
💼 $6M+: Luxury tier with custom-driven demand and longer hold times. Demand is there, but sparse.
Days on Market: 60–100+ days
Price Change: Flat to +1%
Inventory Share: 5%
Buyer Energy: ❄️ Weak
Key Takeaways
- Inventory Crisis: Active listings are down 40% compared to pre-COVID norms, with entry and mid-tier homes being absorbed quickly.
- No Foreclosure Wave: Owners are equity-rich and leverage is low across the board.
- Sticky Prices: Price rises are driven by low supply; no signs of overheating or crashing.
- Interest Rate Impact: A drop of 50–75bps in rates could significantly boost buyer activity, particularly for homes under $2M.
Stay tuned for more insights and updates on the San Diego housing market as we navigate these dynamic times.
