Greater San Diego Association of REALTORS® Market Report - May 2026

Greater San Diego Association of REALTORS® — May 2026

In May 2026, the Greater San Diego real estate market shows signs of cooling, with a composite benchmark price of $770,000. Total sales decreased by 15% year-over-year to 22 transactions, while active listings rose to 74, indicating a shift towards a seller's market.

Market Analysis

The San Diego real estate market is currently experiencing a notable contraction in sales activity, with total sales dropping from 32 in April 2026 to 22 in May. This decline represents a 15% decrease compared to May 2025, when 28 properties were sold. Despite the drop in sales, the months of inventory stands at 2.0, suggesting that while supply is increasing, demand remains relatively stable, allowing sellers to maintain a favorable position in negotiations. The sales-to-new-listings ratio (SNLR) of 44.0% further illustrates the competitive nature of the current market, as it indicates that less than half of new listings are being sold within the month.

Property Type Analysis

In May, detached homes dominated the market with 17 sales, while attached properties, including townhouses, accounted for 5 sales. The disparity in sales volume between these property types highlights the ongoing demand for single-family homes, which continue to attract buyers despite the overall decline in sales. The median price for detached homes in the El Cajon area is reported at $950,000, reflecting a 10.5% increase year-over-year, while attached homes show a more modest increase of 3.9% with a median price of $535,000.

Regional Highlights

The El Cajon area, represented by the 92019 zip code, showcases a mixed performance across property types. New listings for detached homes reached 27, with a pending rate of 70% indicating strong buyer interest. Conversely, the attached market is facing challenges, with closed sales down 61.5% year-over-year, highlighting a potential oversupply or decreased buyer interest in this segment. The overall inventory levels in the region remain relatively balanced, with 39 detached homes and 35 attached homes available, contributing to a months of supply of 2.0 for detached and 3.6 for attached properties.

For Buyers

Prospective buyers are encouraged to act strategically in the current market. With a limited number of sales and a growing inventory, buyers may find opportunities to negotiate favorable terms. It is advisable to conduct thorough research on specific neighborhoods and property types to identify the best options that align with their budget and long-term goals.

For Sellers

Sellers should take advantage of the current market conditions by pricing their properties competitively and ensuring they are in optimal condition for showings. With a strong SNLR and a relatively low months of inventory, sellers can capitalize on buyer interest, but they should remain aware of the declining sales trend and be prepared for potential negotiations.