Is the San Diego Housing Market Slowing Down? Here's What June's Numbers Really Say.
- 1 day ago
- 3 min read
If you've talked to friends, scrolled social media, or driven around your neighborhood lately, you've probably heard the same thing:
"The market feels slow."
Honestly, I see it too.
I'm seeing more homes sit on the market for 60 days or longer. Buyers are taking their time, negotiations are becoming more common, and it doesn't have the frantic pace we experienced a few years ago.
So does that mean the market is weak? Not necessarily.
When I looked at June's housing data, I found something interesting. The market feels slower, but many of the key indicators actually improved.
The Numbers
San Diego County
Median Detached Price: $1,100,000Â (+7.3% year over year)
Closed Sales: â–˛ 12.8%
Pending Sales: â–˛ 2.9%
Inventory: â–Ľ 37%
Average Days on Market: 25
Sellers received 99% of their original asking price
North County
Median Detached Price: $1,240,000Â (+8.1%)
Closed Sales: â–˛ 26.1%
Pending Sales: â–˛ 8.3%
Inventory: â–Ľ 37%
Average Days on Market: 28
Sellers received 98.7% of their original asking price
If you only looked at these numbers, you'd probably think the market was speeding up.
But that's not the whole story.
Why Does It Feel So Different?
Today's buyers are behaving very differently than they did in 2021 or 2022.
Back then, many buyers felt they had to make quick decisions because another offer was always around the corner.
Today, buyers have more options. They're comparing homes more carefully, asking for credits, negotiating repairs, and walking away when a home doesn't feel like a good value.
That's creating a split market.
Some homes receive multiple offers almost immediately.
Others sit for weeks—or months.
The difference often comes down to location, pricing, presentation, condition, and location.
Inventory Is Low, But Buyers Have Choices
One statistic surprised me this month.
Inventory is actually lower than it was a year ago.
San Diego County and North County both have about 37% fewer homes for sale than last June, leaving just 2.4 to 2.7 months of inventory. That's still well below the four to six months we'd consider a balanced market.
So why does it feel like buyers have more leverage?
Because they're willing to wait.
Higher mortgage rates have made buyers more careful. Instead of stretching for a home that isn't quite right, many are waiting for the right opportunity—or negotiating harder when a home has been sitting.
What This Means for Sellers
This isn't the market where you can simply put a sign in the yard and expect multiple offers.
Preparation matters.
Pricing matters.
Presentation matters.
The encouraging news is that sellers are still receiving nearly 99% of their asking price when a home is positioned well.
That tells me buyers are still willing to pay strong prices.
They just expect the home to justify it.
What This Means for Buyers
For buyers, this is one of the healthiest markets we've seen in several years.
There's less pressure to make an immediate decision, and there may be opportunities to negotiate on homes that have been sitting.
At the same time, the best homes—the ones that are priced well and move-in ready—are still selling quickly.
Waiting for every home to become negotiable isn't a winning strategy either.
My Take
One thing I've learned over the years is that the housing market isn't defined by one statistic.
It's defined by how buyers and sellers are behaving.
Right now, I see a market that's more balanced than it was a few years ago. Buyers have become more selective, sellers need to be more strategic, and negotiations are back on the table.
That doesn't mean the market is weak.
It means we're back to a market where preparation, pricing, and patience matter.
