The San Diego housing market in March 2025 showed a mix of trends. While median sales prices for both detached and attached homes experienced modest increases, closed sales declined. The rise in pending sales suggests potential future activity. Notably, inventory levels saw significant growth, providing buyers with more options. The increase in days on market indicates a slight slowdown in the pace of sales. The slight decrease in mortgage rates may offer some relief to prospective buyers.
Median Sales Price
• Detached Homes: The median sales price increased by 3.2% to $1,083,750.
• Attached Homes: The median sales price rose by 1.5% to $679,950.
Sales Activity
• Closed Sales:
• Detached Homes: Decreased by 7.0%.
• Attached Homes: Declined by 10.8%.
• Pending Sales:
• Detached Homes: Increased by 1.5%.
• Attached Homes: Rose by 2.6%.
Inventory Levels
• Detached Homes: Inventory increased by 31.5%.
• Attached Homes: Inventory rose by 60.9%.
Days on Market
• Detached Homes: Increased by 10.0%.
• Attached Homes: Rose by 30.0%.
Mortgage Rates
As of early April 2025:
• 30-Year Fixed-Rate Mortgage: Averaged 6.62%, down from 6.64% the previous week.
• 15-Year Fixed-Rate Mortgage: Held steady at 5.82%.
Chart Courtesy of Freddie Mac: https://www.freddiemac.com/pmms
Conclusion
March 2025 presented a nuanced landscape for San Diego’s housing market, with rising inventory and modest price increases. Buyers may find more opportunities with the increased inventory, while sellers should be mindful of the longer time on market. Staying informed on market trends and mortgage rate fluctuations remains crucial for all parties involved.
For personalized assistance and insights, contact Howard Smith Real Estate at 619-417-0774 or via email. We’re here to guide you through San Diego’s dynamic real estate market.
Note: Data and charts are courtesy of the San Diego Association of Realtors and Freddie Mac.
