The Luxury Market improved over the past couple of weeks.
The luxury inventory of homes priced above $2 million (the top 10% of the San Diego County housing market) decreased by 63 homes, or 6%, and now stands at 987 homes. It’s the first time the inventory has fallen below the 1,000-home level since the end of April. Luxury demand increased by two pending sales, up 1%, and now sits at 184. The Expected Market Time for luxury homes priced above $2 million fell from 173 to 161 days, a 12-day decrease. It will be interesting to see the direction of the luxury market as overall housing demand accelerates with mortgage rates falling to their lowest level since last October.
Year over year, the active luxury inventory is up by 109 homes or 12%, and luxury demand is up by 28 pending sales, or 18%. Last year’s Expected Market Time was 169 days, similar to today.
In the past two weeks, the Expected Market Time for homes priced between $2 million and $4 million decreased from 136 to 125 days. For homes priced between $4 million and $6 million, the Expected Market Time decreased from 229 to 212 days. For homes priced above $6 million, the Expected Market Time decreased from 694 to 668 days. Luxury is at 161 days overall. At this pace, a seller would be looking at becoming a pending sale around February 2026.
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16909 Via de Santa Fe, Rancho Santa Fe, CA, 92067-9519, USA
Gloria, a San Diego native, has spent her life exploring its charming coastal towns and villages, from La Jolla, Del Mar, and Solana Beach to Rancho Santa Fe, Fairbanks Ranch, and beyond. As a resident of Santaluz since 2003, she possesses an intrinsic understanding of this spectacular community and its surroundings. With a career in real estate that began in 1989, Gloria has amassed extensive experience across various market segments, including Residential, Luxury Residential, and Real Estate Asset Protection and Recovery.
From 1989 to 2006, Gloria distinguished herself as one of the nation’s top Listing Managers, representing the interests of the United States Department of Housing and Urban Development in the marketing and sale of over 18,000 properties across five counties in Southern California. Her vast knowledge and real estate acumen are brought to every transaction, ensuring her clients receive the highest level of service and expertise.
Gloria's clients consistently praise her ability to listen empathetically and understand their real estate goals, wants, and needs. Her keen attention to important details and expert negotiation skills further enhances her reputation as a trusted advisor in the real estate industry. Gloria collaborates seamlessly with attorneys, tax consultants, financial advisors, senior title officers, senior escrow officers, and lending representatives, creating a coalition of expertise that benefits her clients immensely.