Six homes closed on El Camino Del Norte in the last 90 days. That street was practically frozen for most of 2024.
I'm not saying this is some massive tidal wave. But if you've been watching the Covenant in Rancho Santa Fe, you know that kind of movement is real. Buyers who spent the last year circling, waiting for sellers to blink on price, are starting to pull the trigger. And sellers? Some of them are finally adjusting.
Here's what I'm actually seeing on the ground this quarter across La Jolla, Del Mar, and Rancho Santa Fe. Inventory is ticking up. Not flooding. Ticking. MLS data from March showed roughly 15% more active luxury listings in North Coastal San Diego compared to this time last year. That's enough to shift the vibe without crashing anything.
For buyers, this matters because you have options you didn't have six months ago. Last fall, if you wanted a turnkey estate in the Covenant on a two acre lot, you had maybe three choices and two of them were overpriced. Now there's room to breathe, compare, negotiate.
For sellers who are still pricing like it's spring 2022, I'll be honest. Those listings are sitting. I've watched a couple properties in La Jolla Farms go through two price reductions before getting a serious offer. The buyers in this bracket are smart. They're patient. They have cash and they know it gives them leverage.
The interesting thing is what's moving fast. Anything priced correctly that's been updated in the last five years, with real outdoor space (not a courtyard the size of a parking spot), is getting attention quickly. I had a client tour a place in Del Mar Heights last week that already had two offers by the time we got there. Listed on a Thursday, offers by Monday.
So the market isn't slow. It's selective. There's a difference. Buyers aren't desperate, but they're active. Sellers who understand that are getting rewarded. The ones who don't are collecting dust and DOM counts they won't love.
If you're thinking about making a move this quarter, the window is interesting right now. Not urgent, not sleepy. Somewhere in between, which honestly is where the best deals tend to happen.
What's your timeline looking like?