San Diego Real Estate Market Update – March 2025

The latest figures for the San Diego real estate market show a mix of price growth and slowed sales activity heading into spring 2025. Based on February data from Redfin, home values in San Diego continue to rise year-over-year, while market pace and volume reflect more cautious buyer behavior.

Prices Continue to Climb

In February 2025, the median sale price for homes in San Diego reached $990,000, marking a 5.3% increase compared to February 2024. Despite affordability challenges, demand remains strong enough to push prices higher, particularly in desirable neighborhoods and updated homes that are move-in ready.

Homes Taking Longer to Sell

Homes in San Diego are now spending more time on the market compared to the previous year. The average number of days on market rose from 17 days in February 2024 to 27 days in February 2025. This shift suggests buyers may be taking more time to evaluate options or negotiate, possibly influenced by ongoing interest rate pressures.

Fewer Sales Compared to Last Year

San Diego saw a dip in the number of homes sold this February. A total of 696 homes sold, down from 743 during the same month last year. While this marks a slowdown, it’s consistent with national trends where higher borrowing costs and limited inventory are leading to lower transaction volume.

A Market Still Defined by Low Inventory

While pricing remains strong, the overall pace of the market is slower than this time last year. Homes are taking longer to sell, and fewer are changing hands, despite year-over-year appreciation. For buyers, this may mean less competition than in previous spring seasons. For sellers, pricing and presentation remain critical for generating strong offers.

For broader housing trends and planning insights, visit SANDAG or Redfin’s San Diego market data for regular updates.

Final Note

This San Diego real estate market update is based on Redfin housing data from February 2025 and reflects backward-looking trends as of March. Conditions may vary across neighborhoods, price ranges, and property types.

Disclaimer:
This blog post is intended for informational purposes only and does not constitute financial, investment, or real estate advice. Always consult with a licensed real estate professional or financial advisor before making any real estate decisions.