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 experienced a notable decline in sales, with total transactions dropping to 15, a 42.9% decrease from the previous year. The inventory of active listings rose to 66, resulting in a months of inventory (MOI) of 3.0, indicating a seller's market.

Market Analysis

The Greater San Diego real estate market is currently characterized by a significant reduction in sales activity. With only 15 homes sold in May 2026, the market reflects a stark contrast to the 26 sales recorded in May 2025. This decline in sales is coupled with a rise in new listings, which totaled 48 this month, suggesting that while sellers are entering the market, buyer demand remains subdued. The current sales-to-new-listings ratio (SNLR) stands at 31.3%, indicating that only a small portion of new listings are being absorbed by buyers, further emphasizing the current market dynamics.

Property Type Analysis

When examining property types, detached homes accounted for 8 of the total sales, while attached homes and townhouses contributed 7 sales. The performance of detached homes appears slightly stronger, but both categories are experiencing challenges in terms of buyer engagement compared to the previous year. The average days on market for attached properties is notably higher at 44 days, compared to 19 days for detached homes, which may reflect differing buyer preferences in the current climate.

Regional Highlights

In the North Park area (zip code 92104), the market shows a mix of activity with 31 new listings and 14 pending sales. The median price for detached homes in this region is $1,164,500, with a closed sales percentage of 98.8% of the list price, indicating that while sales are down, sellers are still achieving favorable pricing. Attached homes in the same area have a median price of $579,000, with a closed sales percentage of 96%, showcasing a slight price adjustment compared to the previous year.

For Buyers

Buyers are encouraged to be patient and strategic in their approach, as the current market conditions favor sellers. With a higher inventory of active listings, buyers have the opportunity to negotiate and explore various options without the pressure of competing offers. Conducting thorough research and being prepared to act quickly on desirable properties will be crucial.

For Sellers

Sellers should take advantage of the current market dynamics by pricing their homes competitively and ensuring they are in optimal condition for showings. With a months of inventory at 3.0, sellers can still achieve favorable outcomes, but they must be prepared for potential negotiations and longer selling timelines compared to previous years.