San Diego sellers hold firm on pricing as homes linger 50% longer than last year
San Diego-Carlsbad-San Marcos metro homeowners are betting on patience over price cuts, maintaining a $1,225,000 median list price even as properties take 63 days to sell, a 50% jump from 42 days a year ago. The standoff between sellers and buyers has created a notable slowdown in market velocity, with only 369 homes absorbed weekly compared to 586 during the same period in 2024.
The pricing discipline stands out in a slowing market. Just 35.2% of active listings have reduced their asking prices, while 1.3% actually increased prices in the past week. This restraint comes despite clear signals of buyer hesitation, weekly absorption has plummeted 37% year-over-year, leaving 2,983 homes on the market compared to 2,799 last November.
Inventory builds as sales pace slows
The metro’s 2.3 months of supply keeps conditions in seller-favorable territory, though the market has shifted from last year’s tighter conditions. New listings continue flowing at 235 homes per week, while the slower absorption rate allows inventory to accumulate. The 19.7% relisting rate suggests some sellers are testing different strategies after initial market exposure.
At $613.7 per square foot, San Diego commands a 50% premium over California’s statewide average of $408.61. The metro’s median price sits 59% above the state’s $769,000 median, reinforcing why sellers feel confident holding their ground.
Premium pricing persists despite longer waits
San Diego’s $1,225,000 median has dipped just 2% from last year’s $1,250,000, a modest adjustment considering the extended selling timeline. The market maintains its position as one of California’s priciest, with homes taking less time to sell than the 70-day state median despite the year-over-year increase.
Nationally, San Diego homes cost nearly three times the $435,000 U.S. median and almost triple the $213.14 per-square-foot average. The 63-day selling timeline beats the national 77-day median, providing additional context for seller confidence.
What to watch
Monitor the 35.2% price-cut rate for signs of seller capitulation. Track whether weekly absorption stabilizes above 350 homes or continues declining. Watch if the 19.7% relisting percentage climbs as patient sellers reconsider strategies.
Use the 63-day median selling time to set realistic expectations with clients. Leverage the 2.3 months supply metric when advising on pricing strategy. Share the 37% absorption decline to illustrate changing buyer behavior in a market where sellers still control conditions but face lengthening timelines.
HousingWire used HW Data to source this story. To see what’s happening in your own local market, generate a housing market report. For enterprise clients looking to license the same market data at a larger scale, visit HW Data.