Greater San Diego Association of REALTORS® Reports May 2026 Market Trends: Sales Drop 50% Year-Over-Year

Greater San Diego Association of REALTORS® — May 2026

In May 2026, the Greater San Diego real estate market experienced a significant decline in sales, with a total of 18 properties sold, reflecting a 50% decrease compared to May 2025. New listings increased to 29, while active listings remained steady at 54, resulting in a months of inventory figure of 1.7.

Market Analysis

The Greater San Diego real estate market is currently characterized as a seller's market, despite the notable drop in sales volume. The sales-to-new-listings ratio (SNLR) stands at 62.1%, indicating that a substantial portion of new listings are being absorbed by the market, albeit at a slower pace than in previous months. The months of inventory at 1.7 suggests that while demand remains relatively strong, the overall sales activity has diminished significantly compared to the same period last year.

Comparing to April 2026, total sales decreased from 29 to 18, while the months of inventory slightly increased from 1.5 to 1.7. This indicates a slight easing in the market, but the low inventory levels continue to support seller pricing power. Year-over-year, the market shows a stark contrast, with total sales dropping from 31 in May 2025 to 18 in May 2026, highlighting the challenges facing buyers and sellers alike in the current economic climate.

Property Type Analysis

In May 2026, detached homes accounted for 11 of the total sales, while attached properties, including townhouses, saw 7 sales. The detached market remains more active, with a higher number of closed sales compared to attached properties. However, both segments are experiencing challenges, as evidenced by the year-over-year decline in closed sales for attached homes, which fell by 22.2% compared to last year. The median price for detached homes is reported at $893,600, while attached homes have a median price of $575,000, reflecting the ongoing price dynamics in the market.

Regional Highlights

In the La Mesa and Grossmont areas, the real estate market shows mixed signals. Detached homes have a median price of $893,600, with a competitive list-to-sale price ratio of 100.9%, indicating that sellers are achieving their asking prices. Conversely, attached homes have a median price of $575,000 and a lower list-to-sale price ratio of 95.7%, suggesting that buyers may have more negotiating power in this segment. The inventory for detached homes stands at 23, while attached homes have 31, contributing to the varying market conditions across property types.

For Buyers

Prospective buyers are advised to remain vigilant in the current market environment, where inventory levels are low but new listings are becoming available. With a sales-to-new-listings ratio indicating a competitive landscape, buyers should be prepared to act quickly on desirable properties and consider their financing options to strengthen their offers.

For Sellers

Sellers in the Greater San Diego area should leverage the current seller's market by pricing their homes competitively and ensuring they are in optimal condition for showings. With a significant reduction in sales volume year-over-year, it is crucial for sellers to be realistic about their pricing strategies and to work closely with their REALTORS® to navigate the changing market dynamics effectively.