Last week I pulled comps in North Park near 30th and Juniper, and something caught my eye. A two-bed condo that would've drawn six or seven offers back in February sat on the market for 19 days before going under contract. At asking price. No escalation clause, no bidding war drama.
That's not a fluke. It's a pattern.
Active listings across San Diego County ticked up about 18% year over year according to what I pulled from the MLS last month. That number doesn't mean we're suddenly swimming in homes, but it does mean you're less likely to walk into an open house and feel like you're competing in a reality show elimination round.
For first-time buyers, this matters more than interest rates right now. I know that sounds counterintuitive. Everyone's obsessed with where rates are headed, and I get it. But here's my take: the difference between a 6.7% rate and a 6.3% rate is real, sure. The difference between having three days to make a decision versus having two weeks? That changes everything about your experience and your outcome.
More inventory means more leverage in small but meaningful ways. You can actually negotiate credits for repairs. You can ask for closing cost help without getting laughed out of the room. You can sleep on it for a night instead of writing an offer from the parking lot of an open house.
I've been telling my first-time buyers to pay attention to pockets like Clairemont, where older single-story homes in the low $800s are sitting longer than they have in two years. Same thing in parts of Mira Mesa. These aren't distressed properties or problem listings. Sellers just don't have the same leverage they had in early 2024.
One thing I'd push back on: the idea that you should wait for rates to drop before buying. If rates drop meaningfully, inventory tightens again. That's just how it works. The buyers who benefit most are the ones who buy when competition is lighter and refinance later. The math tends to favor that path over waiting for a perfect moment that brings everyone else back into the market at the same time.
So if you've been pre-approved and watching from the sidelines, this quarter is worth a serious look. What does your price range open up in a market like this one?