San Diego Market Watch - Real Estate Update For October 23, 2025

Mortgage rates fall to another 12 month low and home inventory drops as well. Stick around for a couple of minutes to find out what's going on. Hello and welcome to everybody's favorite San Diego County real estate information program, San Diego Market Watch. If you're new to this channel, please give us a like and subscribe so you don't miss any of these updates. We are here week after week after week tracking the major metrics in the San Diego County real estate market. So let's get right into that. Looking at home inventory, that is down to 5,800, which is a level that we haven't seen since April timeframe, right? Right around the beginning of April is the last time we had home inventory at 5,800. It ballooned up to about 7,000 during the summer and then ever since early to mid July, it has plateaued and or dropped every single week and that is because less homes are hitting the market. The last four weeks in particular, those new listings have declined while looking at pending sales that have stayed just rock solid steady pretty much all year long and even before that, 450 units a week, folks. That is right about where those pending sales like to hang out a little more, a little less, but that's where they like to hang out and so with that, less price reductions over the last seven days and that really isn't a surprise given the declining inventory. Sellers are feeling a bit more confident with that and as we've reported over the last few weeks, the numbers from August to September as far as median price were down. So we will see when we look at September to October once we get into November, we'll get that October data and see what happened with median price although it's somewhat of a lagging indicator so I wouldn't necessarily expect the current mortgage rates and inventory levels to reflect in median price for another couple of months. Speaking of mortgage rates, oh my goodness, 6.19% is the lowest number that we've seen on this seven-day Freddie Mac mortgage chart for a long time, more than 12 months and this is good news for buyers and sellers because every time mortgage rates go down, there's a few more buyers that can qualify and with inventory coming down, that means less homes for those buyers to compete for so that should firm up pricing just a bit and make homes just a little bit easier to sell although I would caution sellers not to use this as a license to go after some pie-in-the-sky price. Things are still very, very soft and squishy out there, I will say, regarding pricing. If you don't get that price right even by 2% or 3%, you're not gonna get any offers and your home is gonna sit and then you're gonna wind up chasing it down just a bit. I would highly recommend pricing a little bit below market to get more buyers in the door, get more excitement going, get those offers on the table right away and get out of this market because nobody really knows what's happening next. What we do know is that inventory is down, rates are down and that's gonna be good news at least for the next two, three, four weeks, we hope, as long as those rates hold and don't pop way back up again. So that's what's going on in San Diego County Real Estate this week. If you like this content, again, please remember to like, share, subscribe and comment. We'll be back at you with more great real estate information very, very soon. So stay tuned for that. Until then, have a great day and we'll see you right back here.