Published October 4, 2026 in Market Update

Central SD is still moving with rates above 7%

By Ken Schwartz

Real estate, Central SD

Realtor.com reported that mortgage rates climbed above 7% for the first time since January 2025. That's the number people point to when they say the market is frozen. But the Real Estate Data Aggregator counted 1,618 homes sold across Central SD in the three months ending July 31, 2026. That's up 3.6% from the same three months in 2025. Demand didn't stop. It shifted.

More listings came on, up 3.4% across the area. But homes for sale actually fell 2.1%, which tells you supply is moving through fast. That's not a market sitting still. It's one where prep and price still decide who wins.

The rate picture, and what it means here

Realtor.com put the rate milestone plainly: above 7%, first time since January 2025. Nationally, Realtor.com also reported that 20.8% of listings took a price cut in September, the highest share since October 2022. Active listings topped 1.16 million homes nationally. So the national story is more competition and more price cuts. Central SD is not immune to that pressure. But the local sales count says buyers here are still writing offers.

Where things moved fastest

Some ZIP codes are tighter than others. The Real Estate Data Aggregator shows that in ZIP 92117 (Clairemont), 50.4% of homes went under contract within two weeks of listing, up 18.8 points from a year ago. In ZIP 92111 (also Clairemont), that figure was 50%, up 12.3 points. In ZIP 92124, it was also 50%, up 10 points. These are not slow-moving markets.

Where it's taking longer

Downtown (ZIP 92101) is a different story. The Real Estate Data Aggregator counted 327 homes for sale there, up 13.9% from a year ago. Median days on market: 58. Only 13.6% of homes went under contract within two weeks, down 6 points from last year. Months of supply hit 7.3, up 1.2 months. If you own a condo Downtown, that inventory picture matters more than the area-wide headline.

Prices: a mixed picture, not a single trend

Some prices rose, some fell. That's the honest read. The Real Estate Data Aggregator shows ZIP 92116 at a median of $1,250,000, up 8.7% from a year ago. ZIP 92107 came in at $1,400,000, up 12%. ZIP 92102 hit $959,500, up 32.8%, though that ZIP had only 38 homes sold, so one or two larger sales can move that number. On the other side, ZIP 92122 fell 13.9% to $900,000, ZIP 92124 fell 11.2% to $866,000, and ZIP 92110 fell 9% to $753,000.

Are buyers still paying full price?

In most ZIPs, yes. The Real Estate Data Aggregator shows sale-to-list ratios at or above 99% in most of the area. ZIP 92120 came in at 100.2%. ZIP 92119 at 100.6%. ZIP 91942 at 100.5%. The ZIPs where sellers got less than list were mainly ZIP 92101 at 97.6% and ZIP 92108 at 98.1%. Nationally, Realtor.com reported 20.8% of sellers cut their price in September. In most Central SD ZIPs, sellers held closer to their number.

What this means if you're selling

More listings came on across Central SD, up 3.4% in total. That means buyers have more choices than a year ago in several ZIPs. In ZIP 92104 (North Park), new listings jumped 27.6% and months of supply rose by a full month to 3.5. In ZIP 92108, new listings rose 17.5% and months of supply stayed at 4.4. In those ZIPs, pricing carefully matters more than it did last year. In tighter ZIPs like 92117 or 92111, supply is still lean and homes are moving in days, not months.

The Federal Housing Finance Agency reported U.S. house prices rose 2.6% year over year through July 2026. That's a national floor. But your ZIP code's story can sit well above or below that number, as this data shows.