San Diego prices rose. How are buyers gaining room to negotiate?

For sellers, pricing needs to reflect today’s competition.

Your home can be worth more than last year and still need a sharper pricing strategy today.

I’d look at competing listings, recent pending sales, and price reductions before using a summer sale to justify an asking price. The goal is to give today’s buyers a compelling reason to choose your home.

For buyers, negotiate the payment as well as the price.

A softer market can create opportunities for closing cost credits, repairs, or mortgage rate buydowns.

A lower price reduces your purchase cost, while closing cost credits can preserve cash. Temporary buydowns offer initial relief, but the later payment still needs to fit your budget. I’d compare those options with your lender before making an offer.

So, will the price gains last?

My take: Summer’s increase doesn’t predict what comes next. Results will vary by neighborhood, condition, and price range.

If you’re staying put, one report isn’t a reason to change your plans. If you’re buying or selling, let’s look at your local competition and numbers to build a strategy around today’s market.