Published October 11, 2026 in Market Update

The tightest part of the Primary market is moving very fast

One number tells the whole story for the three months ending August 31, 2026. The Real Estate Data Aggregator counted just 1.5 months of supply in ZIP 92117. That means if no new homes listed today, everything would be gone in six weeks. Nationally, the National Association of Realtors put supply at 4.9 months. ZIP 92117 is running at less than a third of that.

That tight supply is showing up in how fast homes move. The Real Estate Data Aggregator found that 47.3% of homes in 92117 went under contract within two weeks of listing. That is nearly 1 in 2 homes. Sellers there are not waiting long.

The Real Estate Data Aggregator also shows that 45.1% of homes in 92117 sold above list price. That share jumped 23.6 points from the same period a year ago. Buyers are not just showing up. Many are going over asking to win.

How 92117 compares with the rest of the Primary market

Not every ZIP looks like 92117. The Real Estate Data Aggregator counted 810 homes for sale across the full Primary market in that same period, down 7.7% from a year before. Supply is tightening broadly. But the pace inside each ZIP varies quite a bit.

ZIP 92102 sits at the other end, with 5.1 months of supply per the Real Estate Data Aggregator. That is above the national figure the National Association of Realtors reported. Days on market there also grew 12 days longer than a year ago. Not every part of this market is moving at the same speed.

Speed: which ZIPs are moving quickest

ZIP 92116 is also moving quickly. The Real Estate Data Aggregator put its median days on market at 16, down 18 days from the same period last year. That is the biggest drop in the Primary market. Its share of homes going under contract within two weeks rose to 44.6%, up 12.6 points year over year.

Where buyers are most likely to pay over asking

ZIP 92102 had 38.2% of homes sell above list, per the Real Estate Data Aggregator. That is the second highest share. But its 5.1 months of supply and longer days on market tell a more mixed picture. Some homes there are winning bidding contests. Others are sitting.

Prices: some ZIPs rose, some dipped

ZIP 92116 saw its median price rise 20.7% year over year to $1,182,500, per the Real Estate Data Aggregator. ZIP 92102 rose 33.9% to $917,500. Both are worth looking at carefully. Fewer homes sold in 92102, so a small mix shift can move the median a long way.

Rates are adding pressure for buyers everywhere

Freddie Mac put the average 30-year fixed rate at 7.40% as of October 8, 2026. The 15-year averaged 6.73%. Realtor.com reported that rates surged nearly 40 basis points in September. That makes every dollar of purchase price cost more per month than it did a year ago.

For sellers in 92117, buyers are still competing even with rates where they are. The Real Estate Data Aggregator counted 131 pending sales there in the period, up 8.3% from a year before. Demand held up even as rates climbed.

One street can read very differently from the ZIP code around it. These are three-month averages. Your block may be faster or slower than the number above. Reply and I can pull what is actually happening closest to you.