Months of inventory flattened out in August, at a level that’s higher than the pre-pandemic average but not particularly troubling. Prices drifted down a bit more. Affordability has improved incrementally but remains quite poor.
I’ll leave it at that and refer you to the charts below…
Thanks for the update Rich. It would be interesting to see a chart of listing withdrawals lined up with available listings over time. I don’t have much to add this month other than my new market barometer is this Dutch auction:
https://www.zillow.com/homedetails/9525-High-Park-Ln-San-Diego-CA-92129/16807573_zpid/
Market limbo ~ How low will it go?
It’s a good review since it’s undesirable for the area (attached, overlooking freeway) and just sold back in 2022. My guess is $980,000 – should we start making bets?
on the topic of casino-style price cuts, here’s another fun one I’m following:
https://redf.in/8thkVu
Property missed a price cut this week. Somebody remind the listing agent!
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It looks like they are getting cold feet about the Dutch auction at the 1M level. Purchased 2/22/22 for 1.1M, they are already in the hole 9% and its not sold. It makes me think it would be interesting to see charts for delinquent mortgage and delinquent property tax payment over time. How much pain did people feel in 2008 before they started walking away?
https://www.consumerfinance.gov/data-research/mortgage-performance-trends/mortgages-30-89-days-delinquent/
https://mortgagetech.ice.com/publicdocs/mortgage/imt-september-2025-mortgage-monitor-report-5Bbzsj9QEEEa.pdf
and from reportsonhousing.com
“DISTRESSED HOMES: Short sales and foreclosures combined, comprised only 0.9% of all listings and 0.8% of demand. Only 15 foreclosures and 37 short sales are available today in San Diego County, with a total of 52 distressed homes on the active market, up six from two weeks ago. Last year, 14 distressed homes were on the market, fewer than today.
• CLOSED SALES: There were 2,002 closed residential resales in September, up 9% compared to September 2024’s 1,839, but down 4% from August 2025. The sales-to-list price ratio was 98.2% for San Diego County. Foreclosures accounted for 0.1% of all closed sales, and short sales accounted for 0.2% of all closed
sales. That means that 99.7% of all sales were sellers with equity.”
I had to make a chart for the visual time context. A picture is worth 1000 words: https://imgur.com/a/mVxeFMR