Are Home Values Rising or Falling in San Diego?

If you’ve been scrolling through housing headlines lately, you’ve probably seen it all: some say prices are climbing, others say they’re dropping. And honestly? They’re both right.

A new Zillow report shows that in half of the country’s biggest metros, home values went up this past year—while in the other half, they fell. So no wonder it feels confusing!

Let’s break it down nationally first, and then I’ll share how it compares to what’s happening right here in San Diego County.

National Trends at a Glance

• Home values: Barely moved—up just 0.2% nationwide.

• Winners: Midwest & Northeast cities like Cleveland (+4.7%) and Hartford (+4.5%).

• Losers: South & West metros like Tampa (-6.2%), Austin (-6%), and Miami (-4.6%).

• Price cuts: 27.4% of listings had reductions (highest since 2018).

• Days on market: Median of 60 days—slowest July in over a decade.

• Affordability: Monthly mortgage costs are down a hair (about $19 less than last year), but still nearly $1,000 higher than pre-pandemic.

Translation: nationally, the market is a bit stuck. Buyers have more leverage in some areas, but affordability continues to be a challenge.

What’s Happening Here in San Diego County

National stats are interesting—but real estate is hyper-local. Here’s what we’re seeing here:

• Median price: $935,000 in SD County, but we know these numbers vary dramatically depending where you live.

• Price reductions: 36.1% vs. 27.4% nationally. There are also reasons for this, which I'm happy to share.

• Days on market: Homes here are averaging 36, compared to the national average of 60.

What that means: Sellers can’t just throw a number out anymore and expect offers. Homes that are priced right and show well are still moving quickly. Overpriced homes? They’re sitting.

What It Means for Buyers

• More homes are sitting longer.

• Price reductions = negotiation opportunities.

• Local numbers matter more than national headlines.

Pro tip: Get pre-approved so you’re ready to act when the right home pops up—you don’t want to miss it.

What It Means for Sellers

• Overpricing is risky. Buyers are savvy and watching the data.

• Homes that are priced competitively and marketed well (professional photos, strong online presence, 3D tours) are the ones getting results.

• Think strategy: pricing, timing, and presentation all matter more than ever.

Bottom Line

Like Zillow’s senior economist Kara Ng said: “Perhaps more than ever, whether it’s a good time to buy depends on where you live.”

The national market is split, but your decisions should be based on San Diego numbers—not broad headlines. Whether you’re buying or selling, the right strategy is what makes the difference. If you'd like to talk about your specific goals, book a time to chat with me here: https://links.townsites.com/widget/bookings/intro-call-with-shell