Why 76 Point Loma Homes Did Not Sell in the Last Year

I pulled the Point Loma numbers this week and found something worth sitting with. Between September 2025 and August 2026, 120 homes priced at $1.5 million and above sold in 92106, and another 76 came off the market without selling at all. That is not a handful of unlucky sellers, that is close to four out of every ten listings, and once you put the two groups side by side the reason why Point Loma homes don't sell stops being much of a mystery.

The last twelve months in Point Loma, by the numbers

The MLS shows this for homes at $1.5 million and up in 92106 between September 1, 2025 and August 31, 2026. The 120 homes that sold closed at a median price of $2,050,000, and they did it in a median of 13 days. The 76 listings that expired, withdrew, or cancelled carried a median asking price of $2,449,000, and they sat for a median of 62 days before their sellers stopped trying.

That second group represents two months of showings and open house weekends and feedback emails, ending with the sign coming down, while other homes in the same neighborhood were going into escrow in under two weeks. The longest of them sat for 409 days.

The real reason Point Loma homes don't sell

A median of 13 days on market is not a slow market. That number says buyers in Point Loma are watching closely and they move quickly when a home is priced where the closed sales support it. The 120 homes that sold went into escrow at an average of about 99 percent of their asking price at the time, so the sellers who priced correctly were not giving anything away to get the deal done.

So the 76 homes that did not sell were not sitting in a market without buyers. They were sitting in a market that had already given them an answer, and the answer was about the number on the listing.

Where the data stops, and I would rather say so

The comparison is not perfectly clean. The 76 unsold listings skew toward the top of the market, with an average asking price of $3,072,530 and one listing at $16,900,000 that drags that average upward on its own. Point Loma above roughly $4 million is a thin market in any given year, and a home in that range can sit for reasons that have nothing to do with the price being wrong.

The median is harder to argue with. Half of those 76 homes were asking $2,449,000 or less, which puts them in the same range where 120 other homes found buyers in a median of 13 days. Those sellers were not stuck in a thin luxury tier. They were priced above what their own neighborhood was actually paying.

How this fits the rest of San Diego County

Point Loma is not behaving differently from the rest of coastal San Diego, it is just easier to see clearly at this price point. The Greater San Diego Association of REALTORS reported a county median detached price of $1,150,000 in its most recent monthly release, up 4.6 percent year over year, with detached inventory down almost 25 percent. Over the same stretch, the California Association of REALTORS found that only 17 percent of San Diego County households could afford the county's median-priced single-family home in the second quarter of 2026, which took an income of roughly $268,000.

Those two numbers together explain most of what I see on the ground, and they line up with the statewide forecast for 2026. Inventory is tight enough that a correctly priced home gets attention in its first week, and affordability is stretched far enough that buyers have nothing left over to reward an optimistic price. The demand is real, but it is disciplined, and it does not chase.

What to do if your listing was one of the 76

If your home came off the market this year, the useful thing to know is that you are not an outlier and the house is very likely still sellable. Before relisting, I would want to look at three things with you.

• What your asking price was against the homes that actually closed within a half mile of you while you were on the market, rather than against what a neighbor listed at two years ago.
• How the home showed in its first two weeks, since that is where the median Point Loma sale happens and where most of your buyer pool either engages or moves on.
• Whether your price reductions were large enough to put you in front of a new group of buyers, or small enough that they only signaled hesitation.

That last one matters more than most sellers expect. A $25,000 reduction on a $2,400,000 listing is not a price change, it is a rounding error, and buyers read it as a seller who is not ready yet. If you want a sense of where your price should land before you have that conversation with anyone, my home valuation page is a reasonable starting point, and I am glad to walk the comparable sales with you line by line.

It also helps to know what your money buys at the other end of the trade. I broke that down in what $1.5 million actually buys you in Point Loma now and in what it costs to move up in Point Loma real estate in 2026. If the timing of selling and buying at once is the part holding you back, here is how one San Diego family handled it.

Frequently asked questions

How long do homes take to sell in Point Loma?

For homes priced at $1.5 million and above in 92106, the median time on market was 13 days between September 2025 and August 2026, with an average of 33 days. Homes that failed to sell in the same period sat for a median of 62 days before coming off the market. Point Loma is a fast market for correctly priced homes and a slow one for everything else.

Why do homes expire without selling in Point Loma?

Price is the most common reason. Over the last twelve months, Point Loma homes above $1.5 million that expired, withdrew, or cancelled asked a median of $2,449,000, while the homes that actually sold closed at a median of $2,050,000. That is a gap of roughly 19 percent, and in a market where buyers are already stretched on affordability, a gap that size is usually enough to stall a listing completely.

What is the median home price in Point Loma?

Among homes priced at $1.5 million and above that closed in 92106 between September 2025 and August 2026, the median sale price was $2,050,000 and the average was $2,386,868. That figure covers the upper portion of the Point Loma market rather than every sale in the neighborhood, so smaller condos and lower priced properties are not included in it.

Can I relist my home after the listing expired?

Yes. An expired or withdrawn listing does not prevent you from putting the home back on the market, and plenty of sellers do exactly that with a revised price and updated photography. What matters is that something meaningful changes before you relist, because the same home at the same price tends to produce the same result.

Is now a good time to sell a home in Point Loma?

It is a good time to sell if you are willing to price to the closed sales. County inventory for detached homes is down nearly 25 percent year over year, so well priced homes are getting attention quickly, and the 13 day median in Point Loma reflects that. The risk is not that your home will not sell, it is that an ambitious price will cost you the first two weeks, which is where most of the buyer interest lives.

Let's talk about your situation

If you are thinking about selling in Point Loma, or anywhere along the coast from Ocean Beach through Mission Hills, and you want a straight read on what your home would actually sell for, I am glad to put the numbers together for you with nothing attached to it. I have been watching this market for almost twenty years, and I would rather tell you the honest number now than watch you spend two months finding it out the hard way. You can reach me at Shirin@TheSDHome.com or at 858.750.5753.