If you’ve been following the San Diego housing market lately, you’ve probably heard conflicting messages.

Some people say the market is slowing down.
Others are still hearing about bidding wars.

The truth is: both are happening.

The latest data highlights something extremely important about today’s market: buyers are becoming far more selective, but they are still competing aggressively for the right home.

These are “showcase homes”—properties that are turnkey, updated, properly prepared, and accurately priced.

And the numbers back it up.

In April:

• 38% of homes sold above asking price
• Another 19% sold at asking price
• Meaning 57% of all sales closed at or above list price

The homes that sold above asking moved incredibly fast, with a median market time of just 9 days.

At the same time, homes that sold below asking took longer and required more negotiation.

This is creating a very different type of market than what we saw during the pandemic boom.

Back then, almost everything sold quickly.

Today, buyers are far more discerning. They are paying attention to:

• condition
• updates
• curb appeal
• pricing
• layout
• deferred maintenance
• and overall presentation

That means strategy matters more than ever.

The broader market also improved slightly over the past two weeks:

• Inventory rose just 2%
• Demand jumped 7%
• Market time improved from 84 days to 80 days

Even luxury homes saw a sharp improvement, with the expected market time for homes over $2M dropping from 146 days to 120 days.

So what does this mean moving forward?

For buyers, there are still opportunities to negotiate—especially on homes that need work or missed the market on pricing.

But buyers waiting for every property to become a discount opportunity may struggle when a truly desirable home becomes available.

For sellers, preparation is no longer optional.

The homes getting top dollar today are the ones where sellers invested time and effort before hitting the market.

In this market, buyers are rewarding excellence.

And average presentation is getting exposed quickly.