"In December, San Diego's active listing count experienced a remarkable increase of 17.8% compared to the same month last year, reaching a total of 1,566 homes. This surge outpaced the national rise of 12.1% in active listings, offering buyers an expansive array of choices. Despite this abundant selection, the number of newly listed homes in San Diego decreased by 15.6% year-over-year, contrasting with a modest national decline of 1.8%. This indicated a release of previously unsold inventory, providing eager buyers with more options to explore."
"San Diego's real estate market showcased a significant 7.7% decrease in the median listing price year-over-year, bringing the median price down to $829,900 in December. This notable drop stood in contrast to the national trend, which saw only a slight dip of 0.6% in median prices. The substantial reduction in San Diego's listing prices, coupled with a 13.4% share of price reductions (up 2.7 percentage points from the previous year), signaled an attractive environment for buyers looking to capitalize on favorable pricing amidst increased inventory."
"Homes in San Diego spent an average of 54 days on the market in December, marking a 7% increase compared to the previous year. Despite this slight increase, homes in San Diego remained on the market notably shorter than the national average of 73 days, which itself increased by 5% year-over-year. The relatively brisk turnover in the local market indicated that while demand may have eased slightly, it continued to thrive compared to national trends, offering buyers a quicker path to homeownership."
Active listings in San Diego rose 17.8% year‑over‑year to 1,566 homes in December, outpacing the national increase of 12.1%. Newly listed homes fell 15.6% year‑over‑year, contrasting with a 1.8% national decline, reflecting a release of previously unsold inventory. The median listing price dropped 7.7% to $829,900, far exceeding the national 0.6% dip, while price reductions accounted for 13.4% of listings, up 2.7 percentage points. Homes averaged 54 days on market, a 7% increase yet well below the national average of 73 days, indicating relatively brisk local turnover and favorable conditions for buyers.
Read at SFGATE
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