San Diego, CA 92109 Real Estate Market Report
ZIP Code: 92109
Report Date: April 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
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.
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.
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.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.
Key Findings
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The neighborhood's primary indicator, the median sold price of $1,995,000, confirms materially higher transaction prices and should be treated as the representative recent sale value when setting offers or pricing comparables.
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Despite elevated seller expectations—illustrated by a median listing price of $2,547,500—market transactions are completing at lower levels, suggesting pricing friction between asking and achieved sale prices that agents should address through staged concessions or targeted marketing.
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Liquidity appears muted: the median days on market of 328 points to slower sales velocity and may indicate buyers are selective or pricing is above market-clearing levels; pricing strategies that reference the median sold price are more likely to accelerate contracts.
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Market context is mixed: the market temperature is hot while rent year-over-year trend is down and interest rate pressure is elevated, which suggests strong price momentum for sales but rising financing and rental headwinds that may constrain investor demand—prioritize buyers with locked financing or cash certainty.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold above market average
Sold above market average
San Diego, CA 92109 Real Estate Market Report
ZIP Code: 92109
Report Date: April 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
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.
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.
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.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.
Key Findings
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median sold price: $941,500 is the primary indicator of recent market value in 92109 and, combined with a hot market temperature and an upward price trend, suggests continued price appreciation pressure in realized transactions.
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The divergence between median listing price: $1,124,000 and median sold price: $941,500 suggests persistent pricing friction, where seller expectations appear to exceed recent transaction levels and may require price adjustments to achieve quicker sales.
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median days on market: 315 is unusually long for a market labeled as hot and indicates slower sales velocity for the sampled transactions, which may lengthen negotiation cycles and reduce liquidity despite upward price momentum.
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Elevated inventory relative to sales activity, falling rents, and interest rate pressure: elevated create a mixed risk profile; investors should note the relatively high median market rent: $3,300 but temper acquisition timing given elevated financing headwinds and softer rent trends.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.5% rate, 0.8% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 4/21/2026
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