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 significant decline in sales, with a total of 17 transactions, down 48.3% year-over-year. New listings increased to 30, while active listings totaled 44, indicating a competitive market for sellers with only 1.3 months of inventory available.

Market Analysis

The Greater San Diego real estate market continues to show signs of a seller's advantage despite the notable decrease in sales compared to the previous year. With only 1.3 months of inventory, the market remains tight, suggesting that demand still exists among buyers, albeit at a reduced pace. The sales-to-new-listings ratio (SNLR) stands at 56.7%, indicating that just over half of the new listings are being absorbed by the market, which is a reflection of the current buyer sentiment and market dynamics.

Property Type Analysis

In May 2026, detached homes accounted for the majority of sales with 15 transactions, while attached homes and townhouses contributed 2 sales. The higher activity in the detached segment suggests that buyers are still favoring single-family homes, likely due to their perceived value and space. The median price for detached homes is reported at $807,000, reflecting a competitive market segment, while attached properties have a median price of $702,450, indicating a more stable pricing environment in that category.

Regional Highlights

Regionally, the Encanto area (ZIP code 92114) shows distinct trends with 26 new listings and 15 closed sales, maintaining a strong median price of $807,000. The market here demonstrates a healthy absorption rate with a 1.3 months supply of inventory, suggesting that demand remains robust despite the overall decline in sales across the Greater San Diego area. This localized activity highlights the importance of understanding neighborhood-specific trends when navigating the market.

For Buyers

For buyers, the current market conditions present an opportunity to negotiate, especially given the increase in new listings. However, with a limited inventory, it is crucial to act quickly on properties of interest and be prepared for potential competition. Buyers should also consider getting pre-approved for financing to strengthen their offers.

For Sellers

Sellers should take advantage of the current market dynamics by pricing their homes competitively and ensuring they are in excellent condition to attract buyers. With a low months of inventory, homes that are well-presented can still command strong interest, but sellers should be prepared for negotiations as buyers are more discerning in the current environment.