North Park — 92104

North Park's detached market saw a real jump in activity. Closed sales more than doubled year over year and pending sales rose two-thirds, pulling months supply down to 2.1 from 3.1. That is a significant tightening for a zip code with this much transaction volume, and it lines up with the double-digit price gain: the median rose 11.6% to $1,110,000.

The list-price ratio tells a more measured story than the headline price. Sellers collected 97.8% of original list, down 2.2 points from a year ago, even as the median climbed. With homes moving in an average of 20 days and inventory down 21.9% to 25 active listings, buyers are absorbing what comes to market quickly, but not necessarily bidding past ask across the board.

The gap between rising price and a slightly softer list-price ratio is worth watching. If sold volume keeps pace with this July's level while inventory stays this thin, expect the market to keep favoring sellers into the fall.

The attached side of North Park is loosening while detached tightens. Active inventory rose 50.0% to 48 units and months supply climbed to 4.5 from 2.8, a meaningfully more balanced reading than a year ago. Closed sales dipped 11.8% to 15 and pending sales fell 41.7% to 7, both signs that buyer absorption slowed even as more product came to market.

Pricing held up despite the softer pace. Median sales price rose 4.7% to $555,000 and sellers collected 99.9% of original list price, up 2.0 points from a year ago. That combination, more inventory and fewer sales but a steady-to-firm price, suggests the segment is rebalancing rather than weakening.

With months supply nearing the mid-four range, North Park attached homes now offer more room for buyers to shop than they did a year ago, while sellers who price accurately are still closing at essentially full ask.