Published October 4, 2026 in Market Update

Some parts of Central SD are still very tight

By Ken Schwartz

Real estate, Central SD

Realtor.com reported that 20.8% of listings nationally had a price cut in September, the highest share since October 2022. Mortgage rates climbed back above 7% for the first time since January 2025, also according to Realtor.com. That is the national picture. Parts of Central SD look different.

The Real Estate Data Aggregator counted 1,618 homes sold across Central SD in the three months ending July 31, 2026, up 3.6% from the same period a year before. Homes for sale across the same area fell 2.1% year over year, to 1,684. More sales and fewer listings at the same time. That combination keeps pressure on buyers in several ZIP codes, even as the national story sounds softer.

Where competition is still strongest

Three ZIP codes stood out in the Real Estate Data Aggregator data for the three months ending July 31, 2026. ZIP 92117 (Clairemont), ZIP 92111 (Linda Vista area), and ZIP 92124 (Tierrasanta area) each had half their listings go under contract within two weeks. ZIP 92117 also carried only 1.9 months of supply. These are not soft markets.

Months of supply tells a similar story

Months of supply measures how long it would take to sell every home currently listed, at the current pace of sales. Below 3 months generally favors sellers. Above 5 months generally favors buyers. The Real Estate Data Aggregator counted supply below 3 months in most Central SD ZIP codes for the three months ending July 31, 2026. ZIP 92124 was the tightest at 1.6 months. ZIP 92101 (Downtown) was the loosest at 7.3 months.

Prices are not all moving the same way

Tight supply does not always mean rising prices, and this market shows that clearly. The Real Estate Data Aggregator found that ZIP 92117 had a median sale price of $1,150,000, up 11.1% year over year. ZIP 92116 came in at $1,250,000, up 8.7%. But ZIP 92124, one of the tightest ZIP codes by supply and speed, had a median sale price of $866,000, down 11.2% from a year before. Low supply can coexist with a price dip when the mix of homes sold shifts. That is why the ZIP code number alone does not tell you what your home is worth.

Where buyers have more room

ZIP 92101, Downtown San Diego, is a different story. The Real Estate Data Aggregator counted 7.3 months of supply there, up 1.2 months from a year before. Median days on market was 58 days. Only 8% of homes sold above list price, down 3.1 points year over year. Sellers in 92101 are working harder to close. ZIP 92108 (Mission Valley area) had 4.4 months of supply and a median sale price of $585,750, down 5.3% year over year. These two ZIP codes give buyers more time and more room to negotiate than the rest of Central SD.

What the national numbers mean here

Realtor.com put price cuts at 20.8% of listings nationally in September. The Federal Housing Finance Agency reported U.S. home prices up 2.6% year over year through July. Those are broad averages across millions of homes. Central SD has ZIP codes running at 1.6 months of supply and others at 7.3 months. The national number does not tell you which side your address is on.