Regional Overview

SAN DIEGO COUNTY
Although mortgage rates have edged down, pending sales in October for both detached and attached homes were slightly lower than the previous month, suggesting softer-than-expected buyer demand. The median price dipped modestly for the third consecutive month and was 0.7% lower than a year ago. Homes continue to stay on the market longer, averaging 43 days — 19.4% higher than during the same period last year. Meanwhile, market-wide inventory declined marginally for the third time this year, representing a 2.8-month supply at the current sales pace.

MONTHS SUPPLY OF INVENTORY
Historically, a 4–6 month supply of inventory (MSI) has been associated with a neutral market — one that doesn't favor either sellers or buyers. A supply of less than 4 months generally favors sellers, while more than 6 months usually favors buyers. MSI can vary significantly between locations and, as illustrated in the table below, across different property types and price ranges.

SELLING TODAY
As sellers face a slower-than-expected market, careful and deliberate pricing is essential for success. Luxury home sellers, in particular, must tune out the noise suggesting a seller's market in lower price ranges and instead take a calculated approach to the selling process — emphasizing smart pricing, exceptional marketing, and patience.

Chart and table provided by the Greater San Diego Association of Realtors®. All data from the San Diego MLS. Residential real estate activity in San Diego County comprised of single-family properties, townhomes, and condominiums. Percent changes are calculated using rounded figures. Information deemed reliable but not guaranteed.

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