The numbers for October and November 2025 paint a clear picture: active listings are at their lowest since March 2024, with only 50 homes available in October and just 17 new listings in November—the fewest since December 2023. This tightening supply is paired with a notable decline in pricing trends.
Average Price Per Square Foot (November, Single Family Homes):
2025: $714/SF
2024: $866/SF
2023: $755/SF
2022: $629/SF
2021: $591/SF
For context, since October 2023, only one month (December 2023) dipped below $700/SF. Now, both October and November 2025 have fallen under that threshold, signaling a break from the 24-month running average.
Currently, 42 homes are listed for sale (as of 11/15/25), ranging from $1.34M to $10.99M, with an average price of $3.47M and $778/SF. November’s closed sales ranged from $1.075M on the low end to $7.5M at the high end.
Why This May Not Be Seasonal
While seasonal slowdowns are common in real estate, broader market data suggests this cooling trend is part of a larger shift.
Analysts note that buyer demand has slowed while inventory is creeping upward, creating longer selling times and modest price declines.
Forecasts for late 2025 highlight that persistent mortgage rates in the mid-6% range and affordability pressures are reshaping the market.
These regional trends align with what we’re seeing in 92127: lower price per square foot, fewer new listings, and a market that feels less competitive than in prior years.
What This Means for Buyers and Sellers
For buyers: The slowdown could mean more negotiating power, especially as homes linger longer on the market.
For sellers: Pricing strategically is critical. Overpricing in a cooling market risks extended time on market and eventual price reductions.
For investors: The shift may signal an opportunity to enter at a more balanced point, especially if rates ease in 2026.
Bottom line: The slowdown in 92127 is consistent with broader San Diego market trends. With prices dipping below long-term averages and inventory patterns shifting, this may be more than just a seasonal pause—it could mark the beginning of a new phase in the local housing cycle.
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92127 Real Estate Report: Fewer Listings, Lower Price Per Square Foot in 2025
(Del Sur, 4S Ranch, Santaluz, Westwood, Rancho Bernardo, and surrounding neighborhoods)
The numbers for October and November 2025 paint a clear picture: active listings are at their lowest since March 2024, with only 50 homes available in October and just 17 new listings in November—the fewest since December 2023. This tightening supply is paired with a notable decline in pricing trends.
For context, since October 2023, only one month (December 2023) dipped below $700/SF. Now, both October and November 2025 have fallen under that threshold, signaling a break from the 24-month running average.
Currently, 42 homes are listed for sale (as of 11/15/25), ranging from $1.34M to $10.99M, with an average price of $3.47M and $778/SF. November’s closed sales ranged from $1.075M on the low end to $7.5M at the high end.
Why This May Not Be Seasonal
While seasonal slowdowns are common in real estate, broader market data suggests this cooling trend is part of a larger shift.
These regional trends align with what we’re seeing in 92127: lower price per square foot, fewer new listings, and a market that feels less competitive than in prior years.
What This Means for Buyers and Sellers
Bottom line: The slowdown in 92127 is consistent with broader San Diego market trends. With prices dipping below long-term averages and inventory patterns shifting, this may be more than just a seasonal pause—it could mark the beginning of a new phase in the local housing cycle.