Navigating the Shifting Market: Smart Moves for Buyers and Sellers
As we move further into the year, the San Diego real estate market continues to evolve, presenting both challenges and opportunities. While headlines may focus on “high” interest rates and shifting demand, the reality on the ground is more nuanced. Well-prepared buyers are securing homes with better terms, and strategic sellers are still finding success—especially those who understand how to position their homes effectively in today's market. Whether you’re thinking of making a move soon or simply keeping an eye on trends, staying informed is key to making smart real estate decisions.
For Sellers: More Competition & Buyer Expectations Are Changing
Inventory is climbing – There are more homes on the market than we’ve seen in years, meaning sellers face greater competition. Buyers now have more choices, which gives them stronger negotiation power when it comes to price and terms.
Updated homes sell faster – Today’s buyers overwhelmingly prefer homes that need little to no updating. If your home requires renovations, expect buyers to either ask for price reductions or look elsewhere. Preparing your home for market with minor updates can make a big difference in attracting strong offers.
Fire risk is a growing concern – If your home is in a designated high-fire area, you may experience slower price growth and buyer hesitation due to the rising cost of fire insurance. Be prepared to address buyer concerns and possibly adjust your pricing strategy accordingly.
For Buyers: Leverage the Market to Your Advantage
Get pre-approved before you tour – If a home is priced correctly and in good condition, it will move quickly. Having a pre-approval letter ready ensures you can act fast when you find the right home.
Negotiate for concessions – Many sellers are now offering concessions to attract buyers. Consider requesting seller credits toward closing costs, buyer broker fees, or a mortgage rate buy-down—these incentives can make a significant difference in your monthly payment and overall affordability.
