The first quarter of 2025 is almost over, and as the weather warms up, so does the San Diego real estate market.
The winter season was busier than most people expected, and many expect even more activity during spring. No sales records were set in February, but prices remain stable, and inventory has already increased 17% since January.
The number of days on market started growing at the end of 2024 and beginning of 2025. It was becoming more common for a house to sit on the market for about a month before accepting an offer. In February, however, homes started selling more quickly. Today, most listings have an accepted offer within two weeks.
Here are the February 2025 median detached home sales prices, and detached inventory numbers as of 3/17/25:
Carlsbad – $1,863,000
Last all-time high: $1,940,000 – September 2024
Encinitas/Cardiff-by-the-Sea – $2,325,000
All-time high: $3,100,000 – September 2023
San Marcos – $1,150,000
Last all-time high: $1,297,000 – September 2024
Vista – $899,000
All-time high: $985,000 – March 2024
Oceanside – $972,500
Last record: $1,031,000 – December 2024
Escondido – $875,000
Last all-time high: $1,040,000 – June 2024
Interest Rates
Interest rates haven’t changed much throughout the year. Last year, many rejoiced when the Federal Reserve dropped the federal funds rate by .5% in September. Then, on November 7, they dropped the rate another .25%. Finally on December 18, they dropped the rate by another .25%. However, mortgage interest rates haven’t responded dramatically. Rates for most 30-year fixed non-jumbo loans still hover around 6.25-6.75%.
More than ever, your credit score makes a huge difference. If you’re considering buying or refinancing, start with a credit check, to make sure you can secure the best rate possible.
If you own a home, it’s probably worth more than you think. Contact me for a free personalized home valuation, or if you have any other real estate questions. I would love to hear from you!
