May 15, 2025

Happy Thursday

You’d think buyers would be fired up right now—jobs are strong, inflation’s easing, and home values are holding steady in San Diego. But the sentiment?

It’s weirdly gloomy.

It’s like everyone’s waiting for the Fed to “bless” the market with a rate cut before jumping in… even though the fundamentals are already strong. I came across a solid breakdown of this dynamic in [this short video] with Philippe Laffont (a billionaire hedge fund manager and the founder of Coatue Management, a technology-focused investment firm based in New York) —worth a watch if you’ve been wondering why it feels slow even though the data says otherwise.

Here’s what’s happening in real estate today:

3 properties to watch, 2 news updates on market trends, and 1 thought-provoking insight from me + a snapshot of current market conditions.

📈 Market Stats & Trends:

Holding Steady (For Now)

Prices are basically flat. A tiny dip from last month, but nothing meaningful.

Activity feels steady, and unless something major shifts, we’ll probably stay this way through May and June—then soften a bit as summer slows things down.

Median price per SF and overall medians nudged up. Days on market dropped a little. But zoom out, and we’re still on a slow upward trend.

Last month I mentioned how stock market drops can shake confidence—especially for higher-end buyers. Since then, stocks bounced back hard. If that momentum holds, it could push medians up. But we’d need a few solid months of gains to really feel it.

For now? Stable. But keep an eye on the markets.

Median Prices This Week

3 Properties to check out

5966 Ladys Secret Ct Rancho Santa Fe, CA 92067 $19,850,000 👀 View property

7794 Paseo La Jolla Carlsbad, CA 92009 $1,599,900 ​ View property

1765 Ivy Rd Oceanside, CA 92054 $1,999,000 ​ View property

2 News Articles

• ​The median homeowner tenure has doubled since 2005​

Two decades ago, the average homeowner moved every 6.5 years. Today? It’s closer to 12 years.

That shift has major ripple effects: lower inventory, tighter move-up options, and more pressure on entry-level buyers. When people stay put longer, fewer homes hit the market—which keeps supply low and prices propped up, even in higher-rate environments.

For sellers, it’s a reminder that your home might be more in-demand than you think. For buyers, it means patience and strong prep matter more than ever.

This isn’t just a short-term trend—it’s a structural shift. Plan accordingly.

• ​44% of Sellers Are Offering Concessions—Here’s What That Means for You​

Nearly half of all home sellers are giving concessions right now—think closing cost credits, rate buydowns, or covering repairs. According to Redfin, that’s the highest rate in over a year.

Why? It’s simple: buyers have become more selective and leverage is shifting- in some cases. Sellers who want to move quickly are sweetening the deal to stand out.

If you’re buying, this is a great time to negotiate—especially on homes that have been sitting. If you’re selling, be ready to meet the market where it is. Strategic concessions can protect your price and speed up the deal.​
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1 Tip or Thought

💡 Stop Waiting for the Perfect Time

This week I had shoulder surgery—and still put 3 deals under contract.

The “perfect” time doesn’t exist. Not in life, and definitely not in real estate. You can plan all you want, but the market (and life) has a way of punching you in the mouth.

Right now, there’s a ton of noise in the headlines: tariffs, interest rate drama, stock market swings. But here’s what actually moves the needle in real estate: affordability and choice. If you can afford the payment and you find the right fit, that’s the signal. Everything else is noise.

Waiting for clarity in a chaotic world just means missing opportunities.

Take the next step, even if it’s just getting clear on your numbers or narrowing your search. The people winning right now? They’re decisive in the face of uncertainty.

btw- I'm doing well in recovery! The ice machine is my bff

Josh Meltzer DRE 02098859 REALTOR® M: 858.585.0309​ ​Josh@joshmeltz.com​ ​joshmeltz.com​

P.S. NCAA D1 Championship Golf returns to the Omni La Costa in Carlsbad
​May 23-28, 2025

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DISCLAIMER: Due to recent changes by California Association of Realtors, and the SDMLS Clear Cooperation Policy (the “Policy”), Brokers are limited in their ability to share off-market properties. It is the intent of this letter to be in compliance with the Policy. For this reason, Talechia & Associates can only share such property information with clients of Talechia & Associates. If you would like more information on our properties that are not publicized in the MLS, and becoming a client of Compass, please contact Josh (858) 585-0309 or Talechia (858) 229-2181

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628, 01527235, 01527365. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to the accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.