San Diego’s housing market showed modest improvement in August, according to the latest data from the California Association of Realtors (C.A.R.). After a slower summer, sales of existing single-family homes across the county edged up slightly compared to the month before.

Local Sales Show Gradual Movement

Closed sales of detached single-family homes in San Diego County rose by about 1.3% from July. While activity was still down slightly — about 0.6% lower — than in August 2024, the month-to-month bump offers some optimism for the remainder of the year.

Statewide, California logged an annualized sales pace of 264,240 existing single-family homes in August. That figure was 0.9% higher than July but essentially flat compared to the same time last year.

Prices Slip in San Diego While State Median Climbs

Local home prices eased slightly in August. The median price for a single-family home in San Diego County was $1.02 million — down from $1.04 million the previous month but still up from $1.01 million in August of last year.

Across California, however, the median home price ticked upward to $899,140, a 1.7% increase from July and a 1.2% gain year over year. Some counties continued to see far higher numbers; San Mateo County topped the state with a $1.98 million median, while Lassen County came in at the lowest with $221,000.

Market Outlook Remains Cautiously Positive

C.A.R. leaders say the recent rebound in pending sales is a promising sign that buyers could return this fall. Many have been waiting for better financing conditions, and the slight pullback in mortgage rates over recent weeks may help spur renewed activity.

While San Diego’s housing market isn’t booming, the mix of stable pricing, a touch more buyer interest, and potential rate relief could bring more momentum heading into the last part of the year.