September Market Update

san diego real estate
As always, our goal at AK Real Estate is to provide up to date real estate statistics, trends, and news, to help our clients navigate the ever-changing landscape of the San Diego real estate market.

Market Overview for San Diego CA:

The San Diego real estate market continues to show remarkable resilience and activity despite interest rates that are hovering around a 20 year high! Homebuyers and sellers have been actively participating in the market, leading to a dynamic environment with notable trends in both single-family homes and condominiums. Prices have continued to climb back to all time highs and we are still seeing multiple offers on well priced homes in specific areas. It is still a great time to sell! It will be interesting to see what happens to home prices over the next few months with increasing inventory and high interest rates (read on to see our prediction!).

Key Metrics:

Median Home Price: The median home price for San Diego in July was $990,000 for detached homes and $641,000 for attached homes, this a around a -1% change from the previous month. Despite this small decrease from last month you can see that home prices are at or nearing all time highs.

*SDAR Stats Graph

Inventory Levels: The number of homes available for sale in San Diego remains low for this time of year, with 2706 currently on the market. There are a few important details to pay attention to here. The more obvious trend is comparing current inventory and inventory over the past few years to 2018 and prior, the ~2,500 homes on the market is well below the 9,000 to 10,000 we were typically seeing prior to the pandemic. However, if you just look at the past couple of years we are currently sitting at above average inventory levels. It is important to note that current home prices are based on the historically low inventory since the pandemic. For example, if active inventory shot up to 4,000 homes one would expect a large swing in home prices, that is, if no other market factors changed. Both these graphs below show current inventory levels increasing which helps shift some of the power back to buyers.

*SDAR Stats Graph

*SDAR Stats Graph

Days on Market: The average number of days homes are spending on the market is 24 days. We are still seeing multiple offers on homes in specific areas and 24 days on market is still historically low.

Closed Sales: There were 1,955 closed sales in July, reflecting a small increase in activity compared to June. This indicates strong demand from buyers.


As we move into the coming months, it is more important than ever to stay informed about the dynamic shifts in the real estate market, adapt to changing trends, and make well-researched decisions whether you’re buying, selling, or investing in properties.

The real estate market can shift quickly but based on high interest rates and increasing inventory, I am expecting a slight market cooldown in the coming months. While I am not expecting a decrease in interest rates yet, that would certainly introduce more buyers into the market which would help prop up home prices or even push them higher.

Feel free to reach out if you have any questions or if you’re interested in exploring your real estate options.