The data says prices are down, but the full story tells something very different

You might have seen that San Diego home prices are “down” year over year. The median price dropped from $986,000 to $930,000, and homes are taking about a week longer to sell. But at the exact same time, affordability has improved — roughly 30 percent of households can now qualify for an entry level home, up from recent lows.

Here is what is actually happening. Median price is a blunt tool. When more lower priced homes sell in a given month, the median drops even if individual home values are stable or rising in certain neighborhoods.

I had a client last year who was considering selling. We decided to hold off. Now we are bringing that same home to market, and we are actually listing it higher than we would have a year ago. That does not happen in a market that is falling apart.

For buyers, this creates opportunity. You have more time, slightly better affordability, and less frenzy. For sellers, pricing and strategy matter more than ever, but well positioned homes are still selling strong.

Do not let a single headline dictate your understanding of the market. San Diego real estate is normalizing, segmenting, and in many cases still appreciating depending on where and what you own.