February 2026 Housing Market Update
February showed a meaningful improvement in activity compared to January, with more sales, more pending listings, and stronger overall energy in the Downtown San Diego condo market, even as inventory continued to climb.
What Happened in February
February 2026 showed a noticeable improvement in the Downtown San Diego condo market compared to January. There were 28 closed sales during the month, which is still not a particularly high number overall, but it represents a meaningful jump from the 17 sales in January. That increase in closings is one of the main reasons the market felt like it had a little more energy during February.
At the same time, inventory continued to rise. There were 288 active listings when I pulled the numbers, which is a sizable increase in available inventory downtown. One important note this month is that I pulled the data on March 16th rather than right at the start of the month, so the active and pending listing counts are a little less precise than usual. Even so, they still provide a solid picture of where the market appears to be heading in the short term.
Because sales increased, the months supply of inventory declined to 10.29 months. That is still a high number and still suggests a buyer-leaning environment overall, but it is an improvement from January’s much more elevated level. In other words, while supply remains high, the market is showing signs of better movement underneath the surface.
Pending activity was another encouraging sign. There were 48 pending listings at the time the numbers were pulled, which suggests that there is more activity happening behind the scenes and that we could continue to see stronger sales counts in March and possibly into April as well. Desirable properties still appear to be moving relatively quickly, even if the broader market remains somewhat restrained.
Pricing metrics were mixed. The average sales price came in at $854,904, while the median sales price was $642,500. The average price per square foot was $720, with a median of $672 per square foot. The average list-to-sale price ratio was 96.97%, and homes took an average of 66 days on market, with a median of 52 days. If you’d like to talk through what this means for your building, your price segment, or your neighborhood specifically, feel free to reach out anytime.
The Key Numbers From the Month
A quick look at the biggest figures shaping the February 2026 Downtown condo market.
How Pricing Moved Over the Last 14 Months
Average vs. Median Price Per Square Foot
This shows how the broader pricing trend compares with what a more typical Downtown sale looked like each month.
Average vs. Median Sales Price
February’s lower average price compared to January reflects a different sales mix, even as overall activity improved.
Average vs. Median Active Market Time
Market time increased in February, which is consistent with a market that still has elevated inventory and selective buyer activity.
Average List to Sales Price
Closed sales came in at an average of 96.97% of asking price, showing a little more negotiating room than in January.
Find Out What Your Downtown Condo Is Worth
If you want a more specific breakdown for your building, floor level, floor plan, or view orientation, I’d be happy to help you understand how current competition and recent sales may impact your value.
Request A Home ValuationThe Charts That Best Explain Market Balance
These are the numbers that help explain why Downtown still leans in the buyer’s favor overall, even though activity improved in February.
Months Supply of Inventory
Calculated as active listings divided by the number of sales that month, this remains one of the clearest ways to measure market pressure.
Number of Sales
Sales improved meaningfully from January, which helped reduce the months supply figure and added some energy back into the market.
New Listings
New listings remained elevated in February, continuing the broader increase in available inventory downtown.
Active Listings
Active inventory climbed further, giving buyers more options even as some of the best-positioned properties continued to move.
Pending Listings
The pending count is one of the more encouraging numbers this month and suggests that activity may continue to strengthen in the near term.
Sales Volume ($ Millions)
Even with more sales than January, total dollar volume remained fairly restrained at $23.9 million.
A Downtown Professional You Can Trust
Give me a call at (619) 228-6790 or email me at Ryan@LivingTheSanDiegoLife.com if you would like to talk through your building, your price range, or what these numbers mean for your condo specifically.
