San Diego’s housing market and home values have been on a tear in recent years, but that may be coming to an end.
The median price of a home in the San Diego housing market has steadily increased during the '20s. In April 2025, the median sale price of a home was $990,000, up from $630,000 five years earlier when the pandemic hit, according to Redfin.
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WATCH HEREAlthough the median price of a home continues to rise, houses are sitting on the market for longer. Homes averaged 21 days on the market in April 2025, up six days year-over-year, Redfin's figures show.
“There are just a smaller group of buyers out there that are actively doing transactions, so homes are sitting for a longer," Realtor Destiny Roxas told NBC 7 on Tuesday. "Inventory has ticked up, which is also something to take note of."
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SIGN UP Interest rates, including that of a 30-year fixed-rate mortgage that sits just under 7%, are a factor.
Market experts stress that there are also normal cycles that the housing market goes through.
“The entire real estate market is cyclical, so there’s always going to be a back and forth and ebb and flow, so with interest rates that are higher, obviously, it’s going to be more difficult for affordability for the average American, so people are going to pull back, but what we’ve seen over the last several years is that interest rates are not going to go back to what they were during the pandemic era, so right now we are seeing 6 and 7% and that’s kind of our new normal,” Roxas said.
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While the market changes, experts continue to say research and a strategy for purchasing and selling are important.
“At the end of the day, your home is worth what a buyer will pay for it,” Roxas said.
