Serra Mesa · ZIP Code 92123
October 2026 Market Update
Based on September 2026 sales and market activity
Shirin’s Take
Detached inventory fell sharply, even with fewer closings.
Detached inventory declined to 20 homes and supply fell to 1.8 months. Homes that closed sold faster than last September. Attached figures came from only four closings, so the above-asking list-price ratio needs to be read with that small sample in mind.
September 2026 Statistics
Detached Homes
Serra Mesa · ZIP Code 92123
Fifteen detached homes closed, down from 26, at a median of $1,000,000, down 5.4%. Inventory fell 44.4% and homes that sold averaged 21 days on market, half last September’s average. Pending sales increased slightly, from 12 to 13.
New listings declined from 21 to 13. Sellers received 98.6% of original list price on average, while the year-to-date median was $1,032,500, down 2.6%. The lower median and faster market time describe different aspects of the homes that sold.
For Buyers
Lower inventory and shorter closed-sale market time make preparation useful. Compare the specific home with recent similar sales rather than assuming the lower median means every listing is discounted.
For Sellers
The lower median does not mean every home lost 5.4% in value. Review comparable sales, condition and active competition to determine where your property fits.
September 2026 Statistics
Attached Homes
Townhomes + Condos · ZIP Code 92123
Four attached homes closed at a median of $564,000, down 1.9%. Sellers received 101.8% of original list price on average, but that figure reflects just four transactions. It does not establish that every attached listing is selling above asking.
Pending sales rose from three to eight and inventory increased to 15 homes. Closed homes averaged 29 days on market, compared with 17 last September. The year-to-date median was $600,000, up 1.7%, providing a broader comparison than the four-sale monthly sample.
For Buyers
Do not assume the 101.8% ratio applies to every listing. Review comparable units, HOA costs and condition before deciding whether an above-asking offer is justified.
For Sellers
Use comparable units to set your price rather than relying on an above-asking average from four sales. The higher pending count is worth watching, but it does not guarantee a particular result.
Looking Ahead
What matters next
I will be watching whether detached inventory stays limited while pending activity holds. For attached homes, the increase from three to eight pending sales is worth following into future closings. One month does not establish a sustained trend, especially with a small closed-sale sample.
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Shirin Kheshti · Broker Associate · Coldwell Banker West
DRE #01848250 · 858.750.5753 ·
Shirin@TheSDHome.com
This October 2026 update uses September 2026 data from the Greater San Diego Association of REALTORS® Local Market Update for ZIP 92123, labeled Serra Mesa in the source report. San Diego MLS data is current as of October 5, 2026. Monthly changes compare September 2026 with September 2025; year-to-date comparisons are through September. Detached and attached homes are reported separately. Median prices and original-list-price ratios exclude concessions and downpayment assistance. Percentage changes reproduce the source’s rounded figures; list-price-ratio changes are percentage-point differences calculated from the displayed ratios: detached 98.6% minus 96.0% equals +2.6 points; attached 101.8% minus 99.2% equals +2.6 points. Small samples and the mix of homes sold can affect medians. Market time describes closed sales, not all active listings. ZIP boundaries may differ from neighborhood boundaries. Each office independently owned and operated. Equal Housing Opportunity.