Should I buy a house now or wait? San Diego County

The current housing market in San Diego County is showing some interesting trends:

1. Median Home Prices: The median home price in San Diego County is around $890,000, which is up 2.3% compared to last year.

   
   

2. Days on Market: Homes are selling relatively quickly, with an average of 32 days on the market, compared to 18 days last year.

   
   

3. Inventory: There has been an increase in active listings, with 1,785 homes sold in November 2024, up from 1,549 last year.

   
   

4. Market Activity: The market is still competitive, with many homes selling over the list price. For example, a home listed at $700,000 recently sold for $700,000 after receiving multiple offers.

   
   

5. Rental Market: The average rent in San Diego County is $3,017, which is higher than the national average of $1,983.

The first quarter of 2025 is expected to show some interesting trends in the San Diego County housing market:

1. Home Prices: Prices are projected to continue rising, albeit at a slower pace compared to previous years. Zillow predicts a 2.3% increase in home values by the end of October 2025.

   
   

2. Inventory: While there has been an increase in active listings, inventory levels remain relatively low. This means that competition among buyers might still be strong2.

   
   

3. Market Activity: Homes are expected to continue selling quickly, with an average of around 20 days on the market before going pending.

   
   

4. Economic Factors: The overall economic outlook is mixed, with concerns about higher unemployment and inflation. These factors could impact buyer affordability and market stability.

   
   

5. Mortgage Rates: Rates are expected to ease slightly, which could improve affordability for buyers.