Published October 25, 2026 in Market Update

Inventory is still tight in the Primary market, even as new listings rose

By Alex Saavedra

Real estate, Primary market

Here is the one thing that changes what you should do right now. The Real Estate Data Aggregator counted 623 homes for sale across the Primary market in the three months ending August 31, 2026. That is down 4% from the same months of 2025. Supply is still tight, even though new listings are rising.

The Real Estate Data Aggregator counted 978 new listings across the Primary market in those same three months. That is up 8.8% from a year before. So more sellers are coming off the sidelines. But the total number of homes sitting available still fell. New listings are entering and leaving quickly, not piling up.

For buyers, that means a few more fresh choices, but not a wide-open field. For sellers, more competition is arriving, though supply is still limited enough that well-priced homes are moving.

What the national picture adds

The National Association of Realtors reported national inventory reached 1.60 million homes in September 2026. That is a much larger pool than what the Primary market offers. Locally, 623 homes for sale across ten ZIP codes is a much tighter count by comparison.

The National Association of Realtors also reported that home prices rose 1.3% nationally in September 2026. Freddie Mac put the average 30-year fixed rate at 7.32% as of October 22, 2026. Realtor.com reported an average mortgage rate of 7.40% as of October 22, 2026. Rates above 7% affect how many buyers can qualify, which matters when supply is already thin.

How each ZIP code is reading

The market-wide numbers tell one story. Inside each ZIP code, the picture can look very different. Here is what the Real Estate Data Aggregator counted for the three months ending August 31, 2026.

ZIP 92117 had only 1.5 months of supply and a median of 15 days on market, per the Real Estate Data Aggregator. ZIP 92108 sat at 3.8 months of supply and 50 days on market. Those two ZIP codes are in the same market but reading very differently.

ZIP 92124 had only 20 homes for sale and 1.3 months of supply, the tightest in the market, per the Real Estate Data Aggregator. ZIP 92123 saw new listings fall 19% from a year before. Both are running lean.

Speed and price: what buyers are paying

The Real Estate Data Aggregator found that in ZIP 92117, 47.3% of homes went under contract within two weeks of listing. In ZIP 92116, that share was 44.6%. In ZIP 92120, it was 47.1%. Buyers in those areas are deciding fast.

ZIP 92108 was the exception. Only 23.4% of homes there went under contract within two weeks. Homes in that ZIP also sat 50 days on market on average. Not every home in this market is moving at the same pace.

Prices: some up, some down

The Real Estate Data Aggregator showed prices moved in different directions across ZIP codes. ZIP 92116 rose 20.7% to a median of $1,182,500. ZIP 92117 rose 12.5% to $1,157,500. ZIP 92120 fell 13% to $1,000,000. ZIP 92123 fell 12.2% to $889,500. The market-wide story is mixed, not one direction.