San Diego Market Watch - Real Estate Update For July 3, 2025

San Diego County Home Inventory took a tiny dip this week. Hang out for a minute and I'll talk about 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 weekly updates. We are tracking high-level numbers week over week here. And once a month we bring you the detailed month over month overview with historical perspective included. So you don't want to miss any of that great information. Let's jump right into what's happening here. Yes, home inventory, the number of homes for sale dropped by an insignificant amount. I'll admit that although this is the first time we've seen a drop in a long, long time. In fact, looking at this graph here, I think this is the first time we've seen a week over week drop in the last three months. So interesting, although only one data point. So will it continue? Will it turn the other way next week? Stay tuned. Looking at new listings, those were flat and then pending sales popped up again, just a tiny bit last week. We're looking at price reductions here over the last three weeks. We have a new graphic for you. That's very exciting. We have started tracking the number of homes with price reductions every seven days. So, you know, we had 10% of the inventory back on the week of the 18th and then a little less the week of June 25th and this past week, 8.26% or 544 properties reducing price in the last seven days. So we'll continue to track that for you. Looking at why did pending sales pop up? Well, look at this interest rates took a relatively, I don't want to call it a sharp downturn, but it's the biggest downturn we've seen in several weeks here. And that will get a couple of buyers off the fence. And that probably accounts for the increase in pending sales. One last look at this median price chart until we add a new data point next week. It has plateaued. This is the May number right here. So April to May was fairly flat and then we'll see what happens May to June. I'm predicting that it turns downward. However, we will see. I haven't, I haven't looked yet and we'll be here next Thursday with the month over month highly detailed look at the San Diego real estate market and historical perspective. So stay tuned for that. In the meantime, have a great 4th of July independence day, whatever you want to call it. America is 249 years old. So next year, 2026 is our 250th birthday. And I remember well, the bicentennial 200 years, and I'm finding it hard to wrap my head around the fact that that was 49 years ago. And next year will be 50 years since the bicentennial. It's just a fun, a fun fact, I suppose. So with that, everybody stay sane, stay safe, have a happy 4th of July and we'll see you here next week.