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 continued strength with total sales rising to 40, a 27.3% increase from the same month last year. New listings reached 55, while active listings remained steady at 62, indicating a competitive market for sellers.

Market Analysis

The San Diego real estate market is currently experiencing strong demand, evidenced by a sales-to-new-listings ratio (SNLR) of 72.7%. With only 1.5 months of inventory available, the market is firmly in favor of sellers, creating a challenging environment for buyers. The increase in total sales from 36 in April 2026 to 40 in May demonstrates a robust upward trend, reflecting heightened buyer activity as the market continues to recover from previous slowdowns.

Property Type Analysis

In May, detached homes accounted for the majority of sales with 28 transactions, while attached homes, including townhouses, contributed 12 sales. The median price for detached homes was reported at $1,451,500, reflecting a slight year-over-year decrease of 10.1%. In contrast, attached homes had a median price of $598,500, which is down 11.9% year-over-year, but their sales volume surged by 100%, indicating a strong demand for this property type.

Regional Highlights

The 92129 zip code, which includes the Penasquitos area, shows promising trends with 39 new detached listings and 33 pending sales, suggesting a healthy turnover in this desirable neighborhood. The inventory for detached homes stands at 32, with a months supply of 1.5, reinforcing the competitive nature of the market in this region.

For Buyers

Prospective buyers are advised to act quickly in the current market, as the limited inventory and high demand can lead to competitive bidding situations. It is essential for buyers to be pre-approved for financing and to have a clear understanding of their budget to make timely offers on desirable properties.

For Sellers

Sellers are in a favorable position with the current market dynamics. To maximize their selling potential, it is recommended that sellers price their homes competitively and consider staging to enhance appeal. With a strong SNLR and limited inventory, well-prepared homes are likely to attract multiple offers.