Are condos or houses a better buy in San Diego in 2026?
For a primary residence, a house is the better buy almost every time, if you can handle more upkeep. Condos are where the negotiating room is. Through August 2026, the median condo price fell in 17 of 27 San Diego zip codes, while house medians rose in 18 (San Diego MLS via GSDAR). I'm Jared Harman.
Published . Last updated . Figures are from my own records unless a source is linked.
Why would I pick a house over a condo?
If it's your primary residence and you're OK with a little more maintenance each year, a house will almost always treat you better as an investment over time. And you get to do pretty much whatever you want with it.
A condo wins when it fits how you want to live. You want less maintenance and less to worry about. That's also why a condo can make a great second home.
That is my professional opinion. The rest of this page is about buying a condo well, if that is the life you want.
Why are condos so hard to sell right now?
A lot of buildings are dealing with HOA problems, and lenders have gotten stricter about them. Fannie Mae's Selling Guide makes a building ineligible if it needs critical repairs. It also tells lenders to review special assessments, board meeting minutes and reserve studies.
When a building fails that review, financing a unit in it gets much harder. Sellers there usually cannot afford to sit for another year while the HOA catches up. Catching up usually means higher dues or a special assessment.
That is where the negotiating room comes from. In the 12 months through September 2026, I negotiated about $990,000 in credits and price reductions for my clients.
Does it depend on the neighborhood?
A lot. Through August 2026, the median condo in 92104, which covers North Park, fell 9.8% to $555,000. That is across 77 sales. Data: San Diego MLS via GSDAR, thru August 2026.
In 92102, South Park and Golden Hill, the condo median rose 1.9% to $530,000. That is only 26 sales, so a couple of deals can swing it. Data: San Diego MLS via GSDAR, thru August 2026.
In 92103, which covers Bankers Hill, Hillcrest and Mission Hills, the condo median fell 4.9% to $770,000. That is across 151 sales. Data: San Diego MLS via GSDAR, thru August 2026.
How can I tell if a condo is overpriced?
Walk enough of them. I personally toured more than 800 homes in 2025, and after a while the overpriced ones are obvious.
In my professional opinion, a two-bedroom condo in North Park listed above about $700,000 is probably overpriced from day one. Parking, finishes and the building all move that number. (Jared Harman's professional opinion, from his own tours, not MLS data.)
For comparison, the median condo in the 92104 zip, which covers North Park, sold for $555,000 year to date through August 2026. Data: San Diego MLS via GSDAR, thru August 2026.
What should I check in the HOA before I buy a condo?
Start with the board meeting minutes. Monthly meetings are the best sign. Every other month is fine. Quarterly is the bare minimum. If the records are thin or badly kept, that is a red flag.
Read them for tone, too. An HOA handing out fines left and right may not be a place you'll enjoy living. It's your home. You shouldn't be stressed out in it.
Then the reserve study, which tells you how well funded the HOA is. I'm looking for at least 30%, and somewhere between 30 and 70% is where I like to see it. I have only ever seen one building at or above 100%.
Compare the budget, meaning the normal expected expenses, with what's actually sitting in the reserve accounts. There should be no special assessments.
What should I ask about an older condo building?
If it was built before about 1980, ask whether the sewer and plumbing have been upgraded since, and ask for the records. Some HOAs have them and some do not. They should.
Ask when the roof was last done. Ask about pest and termite maintenance. Most buyers never ask, and the answers tell you a lot about how the building is actually run.
What does a good condo deal look like right now?
One from this year: a three-bedroom Bankers Hill condo with bay views, steep HOA dues, and listing photos that made it look worse than it was. My clients got it under contract at $770,000. Everyone who walked through it guessed $1.2 million or more.
Who is Jared Harman?
Jared Harman is a real estate agent and REALTOR® in San Diego, California, licensed under DRE 02193879 with MatchPoint at eXp Realty of California, Inc. He is based in North Park and represents buyers and sellers across the San Diego metro, roughly half each. He personally toured more than 800 homes in 2025.