San Diego County home sales slide 12.2% as California market cools in September
Key Takeaway: San Diego County home sales fell 12.2% year over year in September as higher mortgage rates squeezed buyers, while the statewide median price held at $899,720.
San Diego County home sales dropped significantly in September 2026, mirroring a broader statewide slowdown driven by rising borrowing costs and stubborn affordability hurdles, according to data released by the California Association of Realtors.
Existing home sales in the county fell 12.2% year over year and dropped 6.0% from August, according to unadjusted figures reported by NBC 7 San Diego. The county median price for an existing single-family home settled at $1,050,000, a 3.7% decrease month over month but a 6.1% increase compared with September 2025.
The statewide annualised rate for existing single-family home sales reached 260,410 units in September, a 3.4% decline from August and a 6.5% drop from September 2025, Hoodline reported. September marked the 48th consecutive month that sales remained below the benchmark of 300,000 units, though year-to-date sales held a slight 0.8% increase.
The statewide median price landed at $899,720, dipping 0.2% from August’s $901,420 while rising 1.7% from $884,390 a year earlier. The 30-year fixed mortgage rate averaged 6.86% in September, up from 6.35% a year earlier and 6.67% in August, Mortgage Professional America reported.
Southern California posts the steepest decline
The Southern California region experienced a 9.1% year-over-year drop in sales, the steepest regional decline in the state, according to the C.A.R. release. Los Angeles County sales fell 10.9% year over year but rose 5.4% month over month, while Orange County sales decreased 2.0% annually, MyNewsLA reported. The Central Coast was the only region to record positive annual growth, with sales climbing 4.4%.
Imperial County saw sharper contractions, with sales plunging 33.3% annually and 13.6% monthly, alongside a median price of $435,000. At opposite ends of the pricing spectrum, San Mateo County posted the highest median price in the state at $2,327,500, while Lassen County recorded the lowest at $237,500.
“As we move into fall, the market feels a little less rushed, giving buyers more time to carefully consider their options,”
Tamara Suminski, C.A.R. President, quoted by NBC 7 San Diego
Easing competition, constrained supply
Market fundamentals showed a mix of easing competition and constrained supply. The statewide Unsold Inventory Index stood at 3.7 months in September, with homes taking a median of 29 days to sell, compared with 28 days in August and 32 days a year prior, RealtyWire reported. Million-dollar-plus properties accounted for 35.9% of all sales, and the statewide sale-to-list ratio reached 98.8%.
“Mortgage rates and affordability remain challenging, but with competition easing, well-prepared buyers may have more room to explore their options, negotiate and focus on finding the right home rather than simply hurrying to make an offer,”
Tamara Suminski, C.A.R. President, quoted by NBC 7 San Diego
Outlook: further softening ahead
C.A.R.’s 2027 market forecast projects a 3.7% rebound in home sales, assuming an average mortgage rate of 6.6%, per RealtyWire. But the association’s chief economist warned the cool-down may persist into the final quarter of the year.
“September’s decline in pending sales suggests that California could see further softening in closed transactions in the coming months,” “On the supply side, the mortgage rate lock-in effect continues to constrain new listings, while limited inventory is helping to cushion home prices against weaker demand. These competing forces suggest that slower sales may not translate into a comparable decline in prices in the near term.”
Jordan Levine, C.A.R. Senior VP and Chief Economist, in the C.A.R. press release
Key Story Metrics
| Figure | Reported Status |
|---|---|
| -12.2% YoY / -6.0% MoM | San Diego County existing home sales, September 2026 (C.A.R., via NBC 7) |
| $1,050,000 | San Diego County median price: -3.7% MoM, +6.1% YoY (C.A.R.) |
| 260,410 units | Statewide existing single-family sales, seasonally adjusted annualised rate (C.A.R.) |
| -3.4% MoM / -6.5% YoY | Statewide sales change (C.A.R.) |
| $899,720 | Statewide median price: -0.2% MoM, +1.7% YoY (C.A.R.) |
| -9.1% YoY | Southern California regional sales, steepest regional decline (C.A.R.) |
| 6.86% | Average 30-year fixed mortgage rate in September, vs 6.35% a year earlier (Freddie Mac, via C.A.R.) |
| 48 months | Consecutive months of sales below the 300,000-unit benchmark (C.A.R.) |
| 3.7 months / 29 days | Unsold Inventory Index / median days to sell (C.A.R.) |
| 35.9% / 98.8% | Million-dollar-plus share of sales / sale-to-list ratio (C.A.R.) |
✓ Verified
Verified: San Diego County sales fell 12.2% year over year and 6.0% month over month in September 2026; the county median was $1,050,000. Statewide sales ran at a 260,410 seasonally adjusted annualised rate with a $899,720 median price (C.A.R., 19 Oct 2026). The 30-year fixed rate averaged 6.86%.
⚠ Still needs confirmation
Still to confirm: C.A.R.’s 2027 outlook, reported by RealtyWire, projects a 3.7% gain in home sales on an average 6.6% mortgage rate. This is the association’s forecast, not an observed outcome.
- NBC 7 San Diego (City News Service): Home sales slow across San Diego County and statewide
- California Association of Realtors press release via PR Newswire (19 Oct 2026)
- Mortgage Professional America: California home sales fall amid mortgage rate spike
- Hoodline: Southern California home sales sink 9.1% as mortgage rates hit 6.86%
- RealtyWire: California home sales September 2026
- MyNewsLA: Home sales slow across Southland, statewide
Editor’s note: This article draws on reporting available up to 20 October 2026. County sales figures are not seasonally adjusted; the statewide sales rate is seasonally adjusted and annualised.
