Is It a Buyer's or Seller's Market in San Diego Right Now? (September 2026)

Short answer: San Diego County is a balanced market as of September 2026, and neither buyers nor sellers hold a clear edge countywide. Under the surface, homes between $750,000 and $1.5 million still lean slightly toward sellers, while homes above $2 million have moved into buyer's-market territory. The entry level under $750,000 has cooled the most since summer.

It's the first question almost everyone asks me, and it has changed since July. Back then, San Diego was a slight seller's market under $1.5 million. Since then, mortgage rates have climbed to 7.22%, the market has slowed, and most of the county has drifted into balanced territory. Here's what's happening by price point, and what it means if you're buying or selling.

How to read a market: Expected Market Time

Forget the headlines. The cleanest way to judge a market is Expected Market Time: how many days it would take to sell every home currently for sale at the current pace of buying. It combines supply and demand into one number. Here's the scale the industry uses:

• Under 60 days: hot seller's market
• 60–90 days: slight seller's market
• 90–120 days: balanced market
• 120+ days: buyer's market

As of September 15, 2026, San Diego County sits at 106 days, squarely in balanced territory. That's up from 93 days in early July and 97 days a year ago. It's also the slowest September reading since Reports on Housing began tracking the county in 2012.

The reason is simple arithmetic. There are 5,867 homes for sale countywide, while only 1,656 went into escrow over the past 30 days, down 11% from last September. Supply peaked in mid-August at 5,981 and has started its usual autumn decline, but demand has stayed low. For the full breakdown, see our San Diego housing market update and housing inventory report.

Market time by price point

Here's where each price range stands as of September 15, with last year's figure in parentheses:

• Under $750K: 119 days (95), balanced, close to a buyer's market
• $750K–$1M: 89 days (73), slight seller's market
• $1M–$1.25M: 95 days (87), balanced
• $1.25M–$1.5M: 78 days (105), slight seller's market
• $1.5M–$2M: 106 days (122), balanced
• $2M–$4M: 120 days (125), buyer's market threshold
• $4M–$6M: 146 days (212), buyer's market
• $6M+: 443 days (668), strong buyer's market

One pattern stands out. Every bracket under $1.25 million is slower than a year ago, and every bracket above $1.25 million is faster. The two ends of the market are converging toward the middle.

Under $750K: the biggest shift since summer

The entry level has cooled the most. At 119 days, homes under $750,000 now take longer to sell than any bracket up to $2 million. This tier is heavy with condos and townhomes, and that part of the market is noticeably slower. Condos are taking 132 days to sell versus 99 days for detached homes, and attached home values are down 2.9% from a year ago. Our condo vs. detached home market breakdown covers this in detail.

This is where you'll find condo-heavy areas like Downtown, Mission Valley and parts of Hillcrest.

What it means: If you're buying here, you have more time and more room to negotiate than you did this spring, especially on condos. If you're selling here, pricing right from day one matters more than it has in years. An overpriced condo can sit for months. Our guide on why homes sit on the market explains how to avoid that.

$750K to $1.5M: where sellers still have an edge

The middle of the market is still the strongest part of the county. Homes from $750,000 to $1 million are selling in 89 days, and homes from $1.25 million to $1.5 million in just 78 days, both in slight seller's-market range. The $1M–$1.25M bracket sits just over the line at 95 days, which counts as balanced.

This range covers much of the county's detached housing, including a lot of the market in North Park, Oceanside and Carlsbad, where August's median sale price was $1,374,000.

Well-priced homes still sell close to asking. Countywide, the median August home sold at 100% of its list price after a median of 19 days on the market. But "at asking" is an average of very different outcomes. In August, 48% of homes sold below asking (a median of $25,000 under, after about a month), 18% sold at list, and 33% sold above (a median of $19,000 over, within about 10 days). The homes that sell fast and over asking are the ones priced right from the start. See how much negotiating room San Diego buyers have.

What it means: If you're buying in this range, come prepared: have your preapproval letter in hand, move quickly on the right home and be realistic on price. If you're selling here, you're in a solid position, as long as you price to today's market and not last spring's. Our guide on how to price a home in San Diego walks through it.

$1.5M to $2M: balanced

At 106 days, this bracket matches the county average. It's actually faster than a year ago (122 days), so demand at this level has held up better than at the entry level. This range includes much of Carmel Valley, where the August median sale price was $1,835,000.

What it means: Neither side has leverage by default. Pricing, condition and presentation decide the outcome here more than the market does.

Above $2M: a buyer's market

The luxury market is where buyers hold real negotiating power:

• $2M–$4M: 120 days, right at the buyer's-market line
• $4M–$6M: 146 days, buyer's market
• $6M+: 443 days, more than a year of inventory

There are 836 homes for sale above $2 million countywide against 170 pending sales, an Expected Market Time of 148 days. That's actually faster than a year ago (161 days), so luxury is slowly improving even as the rest of the market slows. One caution: the $4M–$6M bracket has only 141 listings and swings sharply from report to report, so treat any single reading there as a snapshot, not a trend.

This is the market for most homes in La Jolla (August median sale price $2,165,000), Coronado ($2,730,000), Del Mar ($3,635,000) and Encinitas ($2,002,000). Our San Diego luxury home market report has the full picture.

What it means: If you're buying luxury, you have time and leverage. You don't need to rush, and there's room to negotiate on price and terms. If you're selling luxury, the strategy is different from the tiers below: price sharply from day one, expect patience and invest in standout presentation.

Why the market slowed: mortgage rates

The biggest change since July is borrowing costs. Mortgage rates reached 7.22% in mid-September, the highest since January 2025 and up from 5.99% at the end of February. The Federal Reserve raised its benchmark rate by a quarter point on September 16.

Higher rates hit the entry level hardest, because those buyers are the most payment-sensitive. That's a big reason homes under $750,000 have slowed while the luxury market, where more buyers pay cash, has held steady. Read more in mortgage rates and the San Diego housing market.

Prices, meanwhile, are holding. August's countywide median sale price was $950,000, with 1,955 closed sales. Volume is what has slowed, not values. See San Diego home prices by city for your area.

So: buyer's or seller's market?

Both, and mostly neither. As of September 2026, San Diego is:

• Balanced countywide at 106 days
• A slight seller's market from $750,000 to $1 million and from $1.25 million to $1.5 million
• Balanced, leaning toward buyers under $750,000, especially for condos
• A buyer's market above $2 million

The countywide number is accurate but not very useful on its own. What matters is the number for your price range and your neighborhood. That's why blanket advice like "it's a great time to buy" or "sellers are winning" is worth ignoring right now.

If you're deciding when to list, our guide on the best time of year to sell in San Diego covers the seasonal pattern: the Fall Market runs through mid-November before the Holiday Market slows things further. First-time buyers should also look at closing costs in San Diego and the FHA duplex strategy before shopping.

FAQs

Is San Diego a buyer's or seller's market right now?

As of September 15, 2026, San Diego County is a balanced market, with an Expected Market Time of 106 days. Homes from $750,000 to $1.5 million still lean slightly toward sellers, and homes above $2 million are in a buyer's market.

Is now a good time to buy a house in San Diego?

It depends on your price range and your finances. Buyers have more negotiating room than they've had in years, especially on condos and homes above $2 million. The tradeoff is higher borrowing costs, with mortgage rates at 7.22% in mid-September. If the monthly payment works for you, there's less competition than in spring.

Are home prices dropping in San Diego?

Not broadly. The countywide median sale price was $950,000 in August, and homes sold at 100% of list price on average. What has slowed is sales volume, not values. The exception is condos and townhomes, where values are down 2.9% from a year ago.

What is Expected Market Time?

It's the number of days it would take to sell every home for sale at the current pace of pending sales. Under 60 days is a hot seller's market, 60 to 90 is a slight seller's market, 90 to 120 is balanced, and over 120 is a buyer's market.

Is the San Diego luxury market a buyer's market?

Yes. Homes above $2 million have an Expected Market Time of 148 days, and homes above $6 million have more than a year of inventory at 443 days. Luxury buyers have significant negotiating power.