One zip code is running away with the market for a second straight week

92618 led every activity column in the territory for the week of 2026-08-31, and it did the same the week before. That kind of repeat leadership is worth stopping on, because a single strong week can be noise, but two in a row from the same zip is a pattern.

Start with volume. 92618 posted 45 new listings this week, the most of any zip in the territory, out of 222 new listings territory-wide. It also posted 47 sales, the most of any zip, out of 368 sales territory-wide. Active inventory in 92618 stood at 480 homes, again the most of any zip, against 2,132 active homes territory-wide.

The sharper story is price cuts. 92618 recorded 43 price cuts this week. The next-highest zip, 92630, recorded 14. That gap, nearly three to one, is new information this week adds to what was already known about 92618's activity lead. Territory-wide, cuts totaled 130 for the week.

Separately, this week's largest individual price cuts are concentrated at the top of the market. Of the ten largest cuts recorded in the window, nine sit on listings priced above 1,950,000. The single largest cut was $900,000, taken on a $6,680,000 home at 27 Vernal Spg in 92603. The second largest was $450,000, on a $5,800,000 home at 30 Palazzo in 92660. A $400,012 cut landed on a $4,999,888 listing at 209 Via Koron in 92663, and a $350,000 cut landed on a $1,950,000 listing at 14 Wild Goose Ct #62, also in 92663. In 92618 itself, a $308,000 cut was taken on a $6,080,000 home at 79 Eider Run. In 92660, a second large cut of $300,000 landed on a $6,695,000 home at 1312 Dover Dr. In 92672, a $260,000 cut landed on a $4,990,000 home at 237 W Avenida Alessandro. And in 92620, a $215,000 cut landed on a $1,984,000 home at 15 Vicksburg.

For an owner in 92618, the takeaway is about competition, not price. With 480 active listings and 43 cuts already taken this week, a new listing there is entering a crowded, price-sensitive pool.

For an owner in one of the higher-priced zips like 92660, 92663, or 92603, the takeaway is different: this week's biggest concessions are happening at the top of the price range, which is where sellers are giving the most ground right now.

If you're buying in 92618, the volume of new listings and active inventory means more choice, and the cut count suggests some sellers are already open to negotiating. If you're selling in 92618, expect to be compared against a large and growing pool of competing homes.

If you're buying above 1,950,000 anywhere in the territory this week, the cut data suggests some room to negotiate has already been conceded by sellers. If you're selling in that tier, this week's cuts are a signal worth watching before you set your own asking price.

Territory-wide, the median list price this period was $1,644,995. The median sale price this period was $1,600,000. Median days on market territory-wide stood at 42 days. The sale-to-list ratio territory-wide came in at 98.70% of asking. Months of supply territory-wide read 5.40 months.

What would change this read: if 92618's cut count narrows relative to 92630 or another zip next week, that would suggest this week's gap was a one-time event rather than a widening trend. If the luxury-tier cut concentration repeats a third week, that would turn a two-week observation into a real pattern worth naming as such.

This note draws on 368 recorded sales and 130 recorded price cuts across the territory for the week of 2026-08-31, plus a 4-week price window ending 2026-09-07. It does not tell us why sellers in any zip are cutting, only that they are.

Chris Robertson