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 only 28 transactions recorded, a 53.3% decrease from the same month last year. New listings totaled 47, while active listings reached 73, indicating a slight increase in inventory compared to April 2026.

Market Analysis

The Greater San Diego real estate market is currently characterized as a seller's market, with a months of inventory (MOI) of 2.0. This indicates that homes are selling relatively quickly, although the total sales volume has dropped sharply compared to the previous year. The sales-to-new-listings ratio (SNLR) stands at 59.6%, suggesting that while demand remains, it is not sufficient to match the available supply, leading to a backlog of listings. The market's dynamics reflect a cautious approach from buyers amid economic uncertainties, which has contributed to the overall decline in sales activity.

Property Type Analysis

In May 2026, both detached and attached properties recorded 14 sales each, highlighting a balanced interest across these segments. Detached homes had a median price of $2,907,500, while attached properties were priced at a median of $850,000. The year-over-year performance shows a stark contrast, with detached homes experiencing a 53.3% decline in closed sales, while attached properties saw a smaller decrease of 6.7%. This suggests that the demand for attached homes may be more resilient in the current market conditions.

Regional Highlights

Focusing on the Carmel Valley area (zip code 92130), new listings for detached homes numbered 24, with 14 closed sales reflecting a competitive market where homes are selling at 99.9% of their list price. The attached segment also showed similar trends, with a median price of $850,000 and a 97.7% list price retention, indicating strong buyer interest despite overall market challenges. The inventory levels in this region remain tight, with a months supply of 2.0 for detached homes and 3.2 for attached homes, further emphasizing the seller's market.

For Buyers

For potential buyers in the Greater San Diego area, it is crucial to act swiftly when a desirable property becomes available, as the market remains competitive despite the overall decline in sales. Buyers should be prepared to make strong offers and consider properties that may require some negotiation, especially in sought-after neighborhoods like Carmel Valley.

For Sellers

Sellers are advised to price their homes competitively and ensure they are in excellent condition to attract buyers in the current market. With a limited number of active listings and a favorable sales-to-new-listings ratio, sellers can leverage the current demand to achieve favorable terms while being mindful of the year-over-year sales decline.