09/28/2026
San Diego doesn't have one housing market right now. It has two.
The county headline says 3.0 months of supply, a seller's market (Redfin, August 2026). Split it by property type and the picture changes:
• Single-family homes: 2.3 months of supply, inventory down 20.7% from a year ago, median price $1,120,000 (+4.7%).
• Condos and townhomes: 4.0 months of supply, inventory up 4.6%, median price $670,000 (+0.1%), and 44 days to sell.
(SDAR, August 2026)
Rising inventory, longer days on market, flat prices. That's the early softening pattern, and right now it's showing up in condos, not houses.
North County is the exception worth knowing. Condo inventory here is still down 18.8% and prices are up 2.7% (NSDCAR, August 2026). The build-up is a central and south county story.
Then layer on rates. The 30-year fixed hit 7.03% this week (Freddie Mac, Sept 24), and the Fed raised rates on Sept 16. That puts a ceiling on how far any segment can run.
The takeaway: before you price, offer, or wait, find out which of the two markets you're in. The county average won't tell you.
If you want the numbers for your city and property type, send me a message and I'll pull them.
ShaneCarpenter.RealEstate | LPT Realty | CA DRE 02117957