San Diego, CA 92104 Real Estate Market Report

ZIP Code: 92104
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in San Diego, CA (ZIP: 92104) is currently characterized by a median sold price of $998,000, reflecting a stable market environment. The neighborhood has shown modest price appreciation, with the overall market temperature being assessed as neutral. This indicates a balanced dynamic between buyers and sellers, which is further supported by the median days on market of 329 days, suggesting a slower sales velocity and extended timeframes for property transactions.

Despite the elevated inventory levels, which may indicate excess supply relative to sales activity, strong rental demand persists in the area. The median market rent stands at $2,399, although it has experienced a slight decline year-over-year. This suggests that while rental demand remains robust, the influx of new supply may be exerting downward pressure on rental prices. Overall, the market appears to be stabilizing, with a cautious outlook as interest rate pressures remain moderate, currently averaging 6.65% for 30-year fixed mortgages.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in San Diego are averaging 6.65% as of March 2026, which is 0.3% higher than the 6.35% average seen in March 2025.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $998,000 indicates a stable market with modest price appreciation.

2. With 329 days on market, the sales velocity is slower, suggesting extended timeframes for property transactions.

3. Elevated inventory levels suggest excess supply relative to sales activity, impacting market dynamics.

4. The median market rent is $2,399, reflecting strong rental demand despite a slight year-over-year decline.

5. Current interest rate pressure is moderate, averaging 6.65%, which may influence buyer behavior and market liquidity.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.