Thursday, April 16, 2026
San Diego home prices edge up in March as hesitant buyers, sellers cloud market
Home prices and home sales rose in San Diego County last month, but uncertainty among buyers and sellers continues to weigh on the housing market, according to the Greater San Diego Association of Realtors.
Home prices and home sales rose in San Diego County last month, but uncertainty among buyers and sellers continues to weigh on the housing market, according to the Greater San Diego Association of Realtors.
The median price for a single-family home in San Diego reached $1.1 million in March, up slightly from $1.09 million in February and continuing a streak in which prices have remained above $1 million for more than a year, the industry group reported.
Prices for attached homes -- including condominiums and townhomes -- also increased, rising 1.5% month-over-month to $670,000. The median price across all housing types held steady at $900,000 for the third consecutive month and has remained at that level since mid-2025, SDAR found.
On a year-over-year basis, the median price for all housing types was up 0.8%.
Sales activity showed signs of improvement after a weaker February, according to the report. Closed sales in San Diego rose 5.2% for detached homes and 9.7% for attached homes in March.
Still, SDAR president Karen Van Ness described the market as "cloudy," with many buyers and sellers holding back amid economic uncertainty and affordability challenges.
"In the short term, the housing market is cloudy and may stay that way until consumer confidence returns," she said, adding that underlying demand remains from those who need to buy or sell.
She said mortgage rates were lower this month than a year earlier and remain historically moderate, though affordability continues to be a major hurdle. Prospects for a stronger spring homebuying season will largely depend on interest rate trends, according to Van Ness.
Inventory also remains constrained, though conditions improved slightly. The number of San Diego homes on the market in March declined 11.2% from a year earlier, compared with a 15.4% annual drop reported in February.
Homes priced between $750,000 and $1 million sold the fastest in March, with a median of 36 days on the market, unchanged from the previous two months. Properties priced at $5 million and above took the longest to sell, averaging 76 days.
Pending sales in San Diego County inched up 0.5% through the 12-month period ending in March, reversing a slight decline reported the previous month.
Nationally, housing inventory rose modestly, with 1.29 million homes for sale in last month, up 2.4% from February and 4.9% from a year earlier, according to the National Association of Realtors. Existing home sales increased 1.7% month-over-month to a seasonally adjusted annual rate of 4.09 million.
The national median home price rose 0.3% from a year earlier to $398,000 in March, marking the 32nd consecutive month of annual gains, according to NAR. Pending home sales climbed 1.8% last month, exceeding economists' expectations.
The median price for a single-family home in San Diego reached $1.1 million in March, up slightly from $1.09 million in February and continuing a streak in which prices have remained above $1 million for more than a year, the industry group reported.
Prices for attached homes -- including condominiums and townhomes -- also increased, rising 1.5% month-over-month to $670,000. The median price across all housing types held steady at $900,000 for the third consecutive month and has remained at that level since mid-2025, SDAR found.
On a year-over-year basis, the median price for all housing types was up 0.8%.
Sales activity showed signs of improvement after a weaker February, according to the report. Closed sales in San Diego rose 5.2% for detached homes and 9.7% for attached homes in March.
Still, SDAR president Karen Van Ness described the market as "cloudy," with many buyers and sellers holding back amid economic uncertainty and affordability challenges.
"In the short term, the housing market is cloudy and may stay that way until consumer confidence returns," she said, adding that underlying demand remains from those who need to buy or sell.
She said mortgage rates were lower this month than a year earlier and remain historically moderate, though affordability continues to be a major hurdle. Prospects for a stronger spring homebuying season will largely depend on interest rate trends, according to Van Ness.
Inventory also remains constrained, though conditions improved slightly. The number of San Diego homes on the market in March declined 11.2% from a year earlier, compared with a 15.4% annual drop reported in February.
Homes priced between $750,000 and $1 million sold the fastest in March, with a median of 36 days on the market, unchanged from the previous two months. Properties priced at $5 million and above took the longest to sell, averaging 76 days.
Pending sales in San Diego County inched up 0.5% through the 12-month period ending in March, reversing a slight decline reported the previous month.
Nationally, housing inventory rose modestly, with 1.29 million homes for sale in last month, up 2.4% from February and 4.9% from a year earlier, according to the National Association of Realtors. Existing home sales increased 1.7% month-over-month to a seasonally adjusted annual rate of 4.09 million.
The national median home price rose 0.3% from a year earlier to $398,000 in March, marking the 32nd consecutive month of annual gains, according to NAR. Pending home sales climbed 1.8% last month, exceeding economists' expectations.
