San Diego Real Estate Market Update: January 2025

As we kick off the new year, the San Diego real estate market continues to show resilience and steady growth. Let's dive into the latest statistics and trends that are shaping our local housing landscape.

Market Overview

The San Diego area remains a desirable location for homebuyers, with the average value of a single-family home now standing at $935,237. This represents a 4.3% increase over the past year, indicating sustained market strength despite various economic factors.

Home Prices

As of January 2025, the median sold price for an existing single-family home in San Diego is holding steady at $975,000. This price point reflects a significant 7% increase compared to January 2024, demonstrating the market's continued upward trajectory.

Sales Activity

The market is showing robust activity, with homes typically going pending in about 27 days. This quick turnaround suggests strong demand from buyers. In December 2024, we saw a remarkable 27% increase in sales compared to the previous year, indicating growing confidence in the market.

Inventory Levels

Currently, San Diego County has:

- 2,156 Single Family Detached Homes on the market

- 1,531 Single Family Attached Condos and Townhomes available

- A total of 3,687 properties for sale

The Unsold Inventory Index for Single Family Homes stands at 2.3, which is relatively low and indicates a tight market favoring sellers.

New Listings

As of January 30, 2025, we've seen:

- 50 new homes added to the market

- 30 new condos listed

- A total of 80 new properties becoming available.

This influx of new listings provides fresh opportunities for buyers in our competitive market.

Market Forecast

Looking ahead, Zillow predicts a 3.6% increase in San Diego home values by the end of 2025. This forecast positions San Diego as one of the stronger markets in California, outpacing predictions for Los Angeles (1.8%) and San Francisco (0%).

What This Means for You

For sellers, the market remains favorable with steady price appreciation and relatively low inventory. For buyers, while prices are high, the increase in new listings and stabilizing mortgage rates may present good opportunities.

As your local real estate expert, I'm here to help you navigate this dynamic market. Whether you're looking to buy or sell, now is an excellent time to discuss your real estate goals and how we can achieve them together in this thriving San Diego market.

Stay tuned for more updates, and don't hesitate to reach out with any questions about your specific neighborhood or property type. Let's make your real estate dreams a reality in 2025!