For the Analytical Minds: San Diego Real Estate by the Numbers, April 2026

Here’s what’s actually happening in San Diego real estate right now, the numbers, the context, and what it all means. No fluff, just signal.

The Macro Picture: Tariffs, Bonds, and Why Rates Just Dropped

You can’t talk about the housing market in April 2026 without looking at the bigger picture. Tariffs are back in the headlines, the stock market has been volatile, and the ripple effect is showing up in places most people are not paying close attention to.

Here’s the chain reaction that matters:

Trade war uncertainty increases, investors move money into Treasury bonds, bond prices rise, yields fall, and mortgage rates follow.

The 30-year fixed is sitting around 6.2% as of mid-April, down from 6.46% last week and 6.62% a year ago. That is a meaningful move. Rates have fallen roughly 40 basis points year over year, and the recent week-over-week drop has been significant.

But there is another side to it. The tariffs still in place, especially on China, are expected to add roughly $17,000 to $22,000 to the cost of new home construction over the next 12 months. So while borrowing is getting cheaper, building is getting more expensive.

That matters in a market like San Diego, where inventory is already tight. It creates more pressure on supply, and that is not going away anytime soon.

The Fed began cutting rates in September 2024, but lately it has taken a more cautious approach. The market had been expecting continued cuts, but now there is increasing talk of an extended pause. So I would not count on rates dropping to 5% anytime soon. What you see today may be about as good as it gets for a while.

San Diego by the Numbers

Locally, the story looks different depending on property type, so it helps to separate detached homes from attached homes because they are moving in two very different directions.

Detached Homes, Single-Family

Attached Homes, Condos and Townhomes

What Stands Out

Single-family homes are still holding up. Prices are up, months of supply have actually decreased, and while days on market are stretching, 37 days is still a healthy, functioning market. If you are a seller in the detached space with a well-priced, well-presented home, buyers are still competing.

Condos and townhomes are softening. Prices dipped slightly, days on market are rising faster, and supply is growing. This is where buyers are finding more leverage. Price reductions are clustering in the attached segment and in inland, entry-level zip codes. If you are a buyer looking for value, this is where the math starts to make more sense.

The overall median across all property types is around $900,000 to $950,000, and that number has remained fairly flat. The market is not crashing, it is splitting. Detached versus attached, coastal versus inland, move-in ready versus needs work. The headline number hides a lot of nuance.

Inventory: The Number That Tells the Real Story

Active listings in San Diego County reached around 3,980 in January 2026 and have continued to climb. We are getting closer to 2020-level inventory, and some analysts expect we could reach 2019 levels by late 2026 if the trend continues.

For perspective, during the peak frenzy of 2021 and 2022, homes were going pending in 19 days and there was barely a month of supply. Now we are seeing 30 to 45 days on market, depending on the zip code, and months of supply are stretching to 2.2 to 3.0, depending on property type.

That said, anything under 4 to 5 months of supply is still technically considered a seller’s market. We are not in true buyer’s market territory yet. But the gap is closing, and it is closing faster in some areas than others.

Where it is still competitive: Coastal neighborhoods, top school districts, and move-in-ready homes priced correctly. Those homes are still seeing strong interest and can go pending quickly.

Where buyers have more room: Inland entry-level areas, condos across the county, and anything that has been sitting for more than 21 days. Once a listing crosses that threshold, the stigma starts to build and negotiating power shifts.

Price Reductions: A Quiet Signal

Only about 16.3% of active listings have taken a price reduction. That is still relatively low, which tells me sellers are not panicking. But it is a number worth watching because it can act as a leading indicator.

When price reductions start climbing above 20 to 25%, that is usually when you begin to see broader price corrections follow.

Right now, the market feels more like a standoff. Sellers believe their homes are worth what the comps suggest. Buyers are watching the headlines and moving more cautiously. The listings that bridge that gap, realistic pricing, strong presentation, and smart pre-marketing, are the ones that move.

What This All Adds Up To

The San Diego market is not crashing. It is recalibrating. And recalibration rewards people who pay attention to the data instead of reacting to the headlines.

If you are a buyer, you have more inventory, more time, and more negotiating power than at any point since 2019. Rates are in the low 6s and may stay there, or drift a bit lower. The attached segment is where more deals are starting to form. But well-priced detached homes in strong locations are still moving, so do not confuse a shifting market with a slow one.

If you are a seller, preparation and pricing strategy matter more than ever. The margin for error is thin. Overprice by 5%, and you will likely sit. Sit too long, and buyers begin assuming something is wrong. Pre-marketing, staging, and realistic comps are the difference between selling in 14 days and chasing the market down with price cuts.

The opportunity in this market is not about timing the bottom. It is about understanding where the pockets of value are before everyone else sees them.

As always, I’m here if you want to dig into any of these numbers for your specific situation.

Josh