San Diego Real Estate: What the April Numbers Are Really Telling Us
If you've been watching the San Diego real estate market lately, you've probably noticed it feels a little different depending on what price range you're in — and that's exactly what the latest numbers are telling us. Here's what's going on and what it means for you.
More Homes, More Choices
Active Listings
5,342
↑ 5% increase in just weeks
Inventory has been climbing. Active listings just crossed 5,342 homes — a 5% increase over the past couple of weeks alone. While that's still below where we were pre-COVID (the 2017–2019 average was closer to 6,190), it's a meaningful step toward a more balanced market. If you've been waiting for more options before making a move, that moment is getting closer.
Buyers Are Showing Up
Pending Sales
1,915
↑ 6% vs last year
Despite the headlines about economic uncertainty, buyer demand actually ticked up — pending sales rose from 1,898 to 1,915, the first increase since mid-March. That's 6% higher than this same time last year. Buyers are still active, still motivated, and still competing for well-priced homes.
How Fast Is the Market Moving?
Expected Market Time
84 Days
Faster than last year (91 days)
The Expected Market Time — essentially how long it would take to sell every home currently listed at today's buying pace — came in at 84 days. That's a bit slower than it was a few weeks ago, but still meaningfully faster than the 91 days we saw last year at this time. Translation: homes are moving, just not at a frenzied pace.
What About the Luxury Market?
116 Days
$2M–$4M
158 Days
$4M–$6M
This is where not all segments moving at the same speed really shows. Homes in the $2M–$4M range are taking around 116 days on average to sell. The $4M–$6M segment is closer to 158 days. And above $6M? Things have actually improved slightly over this time last year and it depends on what community you live in. If you're buying or selling in this luxury tier, patience, features, condition and smart pricing strategy are everything right now.
The Market Is Healthy at Its Core
Distressed Listings
1.1%
Only 58 homes countywide
One of the most reassuring stats in the market: distressed properties (foreclosures and short sales) make up just 1.1% of all listings in San Diego County. There are only 58 distressed homes on the market countywide. That's not a typo. The overwhelming majority of sellers have equity, and the market is operating from a position of financial strength.
Closed Sales
2,057
↑ 11% Year-over-Year · 100% List Price
March closed sales came in at 2,057 — up 11% from March of last year — and the average home sold at exactly 100% of list price. Sellers who are priced right can still getting full asking price.
So, What Does This Mean for You?
For sellers: Inventory is rising, so competition is increasing. The window to command top dollar is still open, but pricing accurately from day one matters. Overpriced homes are sitting; well-priced homes are selling.
For buyers: More inventory means more leverage and more options than you had six months ago. Demand is still healthy, so waiting for the market to "crash" is a misconceived expectation — well-priced homes are still moving quickly.
As always, we're here to help you read between the lines and make the move that's right for you. Reach out anytime, we'd love to talk through what this means for your specific situation.
The Gloria Shepard Team | Compass
