Downtown has more choices, but buyers are still moving
Here is the one thing that changes what you should do right now. The Real Estate Data Aggregator counted 7.3 months of supply in ZIP 92101 for the three months ending July 31, 2026. The National Association of Realtors put the U.S. figure at 4.9 months, already the highest in over ten years. Downtown is running nearly 50% above that national mark. If you own there, pricing and preparation matter more than they did a year ago.
That said, buyers are still writing offers across the wider market. The Real Estate Data Aggregator counted 1,023 homes sold across all twelve ZIP codes for the three months ending July 31, 2026. That is up 4.2% from the same period a year ago. The market is not frozen.
ZIP 92101: more inventory, slower pace
The Real Estate Data Aggregator counted 327 homes for sale in ZIP 92101 for the three months ending July 31, 2026. That is up 13.9% from a year ago. At the same time, only 8% of homes sold above list price, down 3.1 points from last year. Just 13.6% of homes went under contract within two weeks of listing, down 6 points. Sellers here are competing with more neighbors than they were twelve months ago.
The median sale price in ZIP 92101 was $719,000, up 2.8% from a year ago. Prices have not fallen. But with 58 median days on market and only 137 homes sold, buyers in this ZIP are taking their time. They have room to compare.
Rates add another layer
Freddie Mac put the average 30-year fixed rate at 7.28% as of October 1, 2026. The 15-year averaged 6.60%. Realtor.com noted that rates crossed 7% in late September for the first time since January 2025. That matters for buyers deciding how much home they can carry, and it matters for sellers thinking about who will walk through the door.
How the other ZIP codes compare
ZIP 92101 is the outlier. Most other ZIP codes in this market are running well under 4 months of supply. North Park (92104) sat at 3.5 months. Hillcrest (92103) was at 3.4 months. Mission Valley (92108) was at 4.4 months. The areas around Allied Gardens and San Carlos, ZIPs 92119 and 92120, were tighter still, at 2.3 and 2.5 months.
Where buyers moved fastest
Some ZIP codes saw buyers move quickly even as supply rose nationally. The Real Estate Data Aggregator counted 47.2% of homes in ZIP 92116 going under contract within two weeks of listing, up 20.9 points from a year ago. ZIP 92119 was at 41.3%, up 14.5 points. ZIP 92120 was at 43.2%, up 13.6 points. Those are not slow markets.
Prices: a mixed picture
Not every ZIP saw prices rise. The Real Estate Data Aggregator shows ZIP 92104 (North Park) down 6.8% to $851,000. ZIP 92108 (Mission Valley) was down 5.3% to $585,750. ZIP 92110 was down 9% to $753,000. ZIP 92120 was down 4.3% to $1,100,000. Those dips are real, and they matter if you are pricing a home to sell.
On the other side, ZIP 92107 rose 12% to $1,400,000. ZIP 92116 rose 8.7% to $1,250,000. ZIP 92119 rose 8.8% to $979,000. The Federal Housing Finance Agency reported U.S. house prices rose 2.1% year over year through the second quarter of 2026. Several ZIP codes here ran well ahead of that.
Downtown vs. the rest: a closer look
| 92101 Downtown | 92103 Hillcrest | 92116 | 92119 | |
|---|---|---|---|---|
| Median sale price | $719,000 | $1,055,000 | $1,250,000 | $979,000 |
| Months of supply | 7.3 | 3.4 | 2.8 | 2.3 |
| Median days on market | 58 | 21 | 15 | 19 |
| Sold above list price | 8% | 23.3% | 39.7% | 40.6% |
| Under contract in 2 weeks | 13.6% | 32.7% | 47.2% | 41.3% |
What this means for you
If you own in ZIP 92101, you have more competition than you did a year ago. The Real Estate Data Aggregator shows supply up 1.2 months from a year ago in that ZIP. Pricing to the actual comps matters more now. Homes that sat in this ZIP took a median of 58 days to sell.
If you own in one of the tighter ZIP codes, the picture is different. ZIPs 92116, 92119 and 92120 all saw buyers move faster than a year ago, with more homes selling above list price. The Real Estate Data Aggregator shows ZIP 92120 at 100.2% sale to list and 43.1% of homes selling above list price.
One street can read very differently from the ZIP code average. These are the three months ending July 31, 2026. If you want to know where your specific address sits, I can pull the comps that matter for your home.
- Downtown (92101) has 7.3 months of supply, the highest in this market and well above the 4.9-month national figure the National Association of Realtors reported.
- Most other ZIP codes here are running 2.3 to 4.4 months.
- Rates are at 7.28% (Freddie Mac, October 1, 2026).
- Sales are up 4.2% across the market.
- Prices moved in both directions depending on the ZIP.
- One number does not describe your home.
Your next step
(858) 500-2195Text me your address and I'll send back how your ZIP's supply and days on market compare with what actually sold near you. Takes a day, costs nothing.
Text me- Real Estate Data Aggregator numbers for ZIPs 92101, 92103, 92104, 92106, 92107, 92108, 92109, 92110, 92116, 92120, 92119 and 92115, the three months ending July 31, 2026, compared with the same months of 2025. Real Estate Data Aggregator last updated them on Sep 3, 2026.
- Freddie Mac: Mortgage Rates, read Oct 4, 2026
- National Association of Realtors: Existing-Home Sales, read Oct 4, 2026
- Federal Housing Finance Agency: U.S. House Prices Rise 2.1 Percent Year over Year; Up 0.3 percent Quarter over Quarter | FHFA, Aug 25, 2026
- Redfin: Price-Drop Rate Ticks Up to Record September Rate Amid Strong Buyer’s Market, Sep 30, 2026
- Redfin: Redfin Reports U.S. Home Prices Rose 0.25% From a Month Earlier in August, Sep 22, 2026
- Realtor.com: Weekly Housing Trends: U.S. Market Update (Week Ending Sept. 26, 2026), Oct 1, 2026