March 2026 Housing Market Update
March was a noticeably better month for the Downtown San Diego condo market, with stronger sales, more pending activity, improving pricing metrics, and lower market time compared to the first two months of the year.
What Happened in March
March 2026 was a better month for the Downtown San Diego condo market and looked much healthier than what we saw in January and February. There were 43 closed sales during the month, which is not an amazing number in a broader sense, but it is a clear step up from the 17 sales in January and 28 sales in February. In fact, March nearly matched the combined total from the first two months of the year, which is a meaningful sign that activity improved. :contentReference[oaicite:1]{index=1}
Inventory also continued to rise. There were 298 active listings in Downtown San Diego when the numbers were pulled, which means buyers still have a good amount of choice right now. Even with that increase in inventory, the market improved enough on the sales side that the months supply of inventory came in at 6.93 months. That still suggests conditions that lean somewhat in the buyer’s favor overall, but it is a much healthier number than where things stood earlier in the quarter. :contentReference[oaicite:2]{index=2}
Pending activity was another encouraging sign. There were 51 pending listings going into April, which is up meaningfully from the previous two months and suggests there is more momentum building under the surface. That is important because it points to a market that may continue to show better activity through April, May, and June if that trend holds. :contentReference[oaicite:3]{index=3}
Pricing metrics also moved in a favorable direction during March. The average sales price increased to $922,216, while the median sales price climbed to $795,000. The average price per square foot rose to $761, with the median at $713 per square foot. At the same time, homes sold at an average of 97.91% of asking price, and market time improved, with the average active market time dropping to 52 days and the median falling to 34 days. Overall, March looked like a month where the Downtown market started to regain some momentum. :contentReference[oaicite:4]{index=4}
That does not mean every segment of the market is suddenly tight, because there are still areas of Downtown where buyers have options and leverage, but the overall direction was more encouraging. If you’d like to talk through what this means for your building, your price range, or your neighborhood specifically, feel free to reach out anytime. :contentReference[oaicite:5]{index=5}
The Key Numbers From the Month
A quick look at the biggest figures shaping the March 2026 Downtown condo market.
Average vs. Median Price Per Square Foot
Both the average and median price per square foot moved higher in March, reflecting stronger pricing compared to the prior month.
Average vs. Median Sales Price
March saw a stronger month for both average and median sales price, pointing to improved performance across the market.
Average vs. Median Active Market Time
Days on market improved in March, which fits with the broader theme of better momentum during the month.
Average List to Sales Price
Closed sales averaged 97.91% of asking price in March, a favorable move from February.
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
March showed a healthier balance between sales and inventory, even though buyers still have meaningful options in much of Downtown.
Months Supply of Inventory
This dropped meaningfully in March as sales picked up, bringing the market much closer to a more balanced range.
Number of Sales
Sales improved substantially in March and were one of the clearest signs that the market had more energy.
New Listings
New listings remained elevated, helping keep overall inventory levels high despite stronger sales.
Active Listings
Active inventory climbed to 298 listings, so buyers still have options across much of the market.
Pending Listings
The 51 pending listings going into April are one of the better signs that momentum continued building at quarter-end.
Sales Volume ($ Millions)
Total dollar volume climbed back to $39.7 million as more homes closed and pricing improved.
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.
