San Diego County Market ReportSeptember 2026
House prices are still rising, but contracts slowed sharply as mortgage rates climbed past 7%. The countywide numbers from the San Diego MLS, with current rates and a look at the neighborhoods John Bertsch covers.
Two markets, and a slowdown in contracts
San Diego County is really two markets. Houses remain a seller's market: the September median rose 5.8% to $1,079,000, sellers received 97.7% of original list price, and there were just 2.4 months of supply. Condos and townhomes are flat and loosening: the median was $670,000, down 0.2%, and supply reached 4.0 months, in balanced territory.
The bigger change is in contracts. Pending sales fell 16.8% for houses and 14.4% for condos compared with last September. For houses, it was the second straight month of double-digit declines after a strong spring. Closed sales followed, down about 14% in both segments. That timing lines up with rates: the 30-year fixed went from about 6.7% in early September to 7.40% by October 8, 2026.
Prices haven't reacted yet, because there are still fewer houses for sale than a year ago — 2,950, down 12.9%. If contracts stay weak while listings hold steady, expect supply to build and price growth to slow into winter.
Contracts slowed at the end of summer
Pending sales are homes that went under contract during the month. Year-over-year change by month.
Where San Diego County moved
The full county numbers
Houses (detached)
| Metric | Sep 2025 | Sep 2026 | Change | YTD 2025 | YTD 2026 | Change |
|---|---|---|---|---|---|---|
| New listings | 1,762 | 1,774 | +0.7% | 18,528 | 16,681 | −10.0% |
| Pending sales | 1,300 | 1,082 | −16.8% | 11,530 | 11,319 | −1.8% |
| Closed sales | 1,292 | 1,112 | −13.9% | 11,113 | 11,074 | −0.4% |
| Median sales price | $1,020,000 | $1,079,000 | +5.8% | $1,065,000 | $1,100,000 | +3.3% |
| Average sales price | $1,380,186 | $1,463,273 | +6.0% | $1,400,462 | $1,455,654 | +3.9% |
| % of original list price received | 97.0% | 97.7% | +0.7% | 97.9% | 98.5% | +0.6% |
| Days on market until sale | 41 | 37 | −9.8% | 36 | 36 | 0.0% |
| Housing affordability index | 43 | 38 | −11.6% | 41 | 38 | −7.3% |
| Homes for sale (inventory) | 3,386 | 2,950 | −12.9% | — | — | — |
| Months supply of inventory | 2.8 | 2.4 | −14.3% | — | — | — |
Condos & townhomes (attached)
| Metric | Sep 2025 | Sep 2026 | Change | YTD 2025 | YTD 2026 | Change |
|---|---|---|---|---|---|---|
| New listings | 1,184 | 1,230 | +3.9% | 11,772 | 11,961 | +1.6% |
| Pending sales | 722 | 618 | −14.4% | 6,306 | 6,439 | +2.1% |
| Closed sales | 727 | 625 | −14.0% | 6,110 | 6,244 | +2.2% |
| Median sales price | $671,500 | $670,000 | −0.2% | $670,000 | $665,000 | −0.7% |
| Average sales price | $814,204 | $796,373 | −2.2% | $816,141 | $804,662 | −1.4% |
| % of original list price received | 97.2% | 97.2% | 0.0% | 97.8% | 97.5% | −0.3% |
| Days on market until sale | 42 | 44 | +4.8% | 40 | 44 | +10.0% |
| Housing affordability index | 66 | 62 | −6.1% | 66 | 62 | −6.1% |
| Homes for sale (inventory) | 2,583 | 2,734 | +5.8% | — | — | — |
| Months supply of inventory | 3.8 | 4.0 | +5.3% | — | — | — |
YTD = January through September. The Housing Affordability Index compares median household income with what it takes to qualify for the median-priced home; 100 means income exactly covers it, and lower means less affordable. All residential combined: median $910,000 (+1.7%), 1,737 closed sales (−14.0%), 5,684 homes for sale, 3.0 months of supply.
Neighborhoods at a glance
| Neighborhood | ZIP | House median, YTD | vs. 2025 | House supply (mo.) | Condo median, YTD | Condo supply (mo.) |
|---|---|---|---|---|---|---|
| Mission Hills | 92103 | $1,750,000 | +0.7% | 2.6 | $765,000 | 4.0 |
| Hillcrest | 92103 | $1,750,000 | +0.7% | 2.6 | $765,000 | 4.0 |
| North Park | 92104 | $1,120,000 | −4.3% | 2.0 | $555,000 | 3.1 |
| South Park | 92102 | $860,000 | +4.9% | 3.7 | $530,000 | 5.4 |
| Golden Hill | 92102 | $860,000 | +4.9% | 3.7 | $530,000 | 5.4 |
| University Heights | 92116 | $1,337,000 | −8.4% | 2.2 | $607,500 | 3.1 |
| La Mesa | 91941, 91942 | $1,150,000 | +8.5% | 2.1 | $521,500 | 6.6 |
| La Jolla | 92037 | $3,505,000 | −3.3% | 4.3 | $1,275,000 | 3.5 |
| Coronado | 92118 | $3,400,808 | +14.3% | 3.8 | $1,855,000 | 6.4 |
| San Diego County | — | $1,100,000 | +3.3% | 2.4 | $665,000 | 4.0 |
La Mesa row shows 91941; the La Mesa report includes 91942. Mission Hills and Hillcrest share 92103; South Park and Golden Hill share 92102; University Heights uses 92116.
What the money costs right now
Mortgage rates moved up sharply in late September. The Federal Reserve raised its benchmark rate a quarter point on September 16, to 3.75% to 4.00%, and Freddie Mac's 30-year average reached 7.40% on October 8, 2026. Compared with a year ago, that adds roughly 12% to the monthly principal and interest on the same loan.
Estimated monthly principal & interest, 20% down
| Price point | Price | Loan | Loan type | At 7.40% | At 6.30% |
|---|---|---|---|---|---|
| County condo median | $670,000 | $536,000 | Conforming | $3,711 | $3,318 |
| County house median | $1,079,000 | $863,200 | High-balance conforming | $5,977 | $5,343 |
| $750,000 home | $750,000 | $600,000 | Conforming | $4,154 | $3,714 |
| $1,250,000 home | $1,250,000 | $1,000,000 | High-balance conforming | $6,924 | $6,190 |
| $1,750,000 home | $1,750,000 | $1,400,000 | Jumbo | $9,693 | $8,666 |
| $2,500,000 home | $2,500,000 | $2,000,000 | Jumbo | $13,848 | $12,379 |
Principal and interest only, 30-year fixed, 20% down. Excludes property taxes, insurance, HOA dues and mortgage insurance. Rates are national weekly averages from Freddie Mac's Primary Mortgage Market Survey, not a quote; jumbo and high-balance loans are often priced differently. Loan limits from the Federal Housing Finance Agency (FHFA), 2026.
The county's Housing Affordability Index for houses fell from 43 to 38 — the median household earns 38% of what it takes to qualify for the median house at current rates.
San Diego versus the nation
Nationally, existing-home sales slipped to a seasonally adjusted 3.98 million rate, and the national median rose 1.6% to $429,100, according to the National Association of REALTORS® (NAR). Inventory nationwide climbed to 1.62 million homes, a 4.9-month supply — the most in over a decade.
San Diego is tighter. County house supply is 2.4 months, about half the national level, and the house median rose 5.8%, more than three times the national gain. The slowdown in contracts is the same story playing out here: buyers are pulling back as rates rise, but sellers aren't flooding the market.
Real opportunities on both sides
If you're selling
- House sellers still hold the advantage: 2.4 months of supply and 97.7% of original list price.
- Fewer buyers are signing contracts than a year ago. Price to today's market rather than to spring's.
- Condo sellers face more competition: 4.0 months of supply and a flat median.
If you're buying
- Fewer competing buyers means more room to negotiate than this spring, especially on condos.
- Rates are the main cost driver: at 7.40%, principal and interest on the county house median is about $5,977 a month with 20% down.
- Loans over $1,104,000 are jumbo loans in San Diego County; compare jumbo pricing early.
Common questions about this report
Why did pending sales fall in September 2026?
Pending house sales in San Diego County fell 16.8% and condo pending sales fell 14.4% compared with September 2025. The drop came as the 30-year mortgage rate rose from about 6.7% in early September to 7.40% by October 8, 2026, after the Federal Reserve raised its benchmark rate on September 16. Higher rates raise monthly payments and push some buyers to wait.
Are San Diego home prices still rising?
For houses, yes. The county house median was $1,079,000 in September 2026, up 5.8% from a year earlier, and the year-to-date median of $1,100,000 is up 3.3%. Condo prices are flat: the September condo median was $670,000, down 0.2%, and the year-to-date condo median is down 0.7%.
Is San Diego a buyer's or seller's market?
Houses are a seller's market, with 2.4 months of supply at the end of September 2026. Condos and townhomes are balanced, with 4.0 months of supply. Under three months of supply generally favors sellers, three to six months is balanced, and more than six months favors buyers.
How do current mortgage rates change the monthly payment?
At 7.40%, principal and interest on the September county house median of $1,079,000 with 20% down is about $5,977 a month. At last year's 6.30%, the same loan would cost about $5,343. Taxes, insurance and HOA dues are extra, and jumbo loans may be priced differently.
Does the county median tell me what my home is worth?
No. The county median mixes every neighborhood from Oceanside to Chula Vista, so it shows the direction of the market, not the value of a specific home. Neighborhood reports by ZIP code are closer, and a comparative market analysis based on recent nearby sales is the best guide for a particular property.
What does this mean for your home?
ZIP-level numbers can't price a specific house. John can walk you through recent sales on your street and what they mean for you.
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