San Pedro Market Brief — October 5, 2026

Main signal: September confirms moderate softness—not an inventory glut.

San Pedro’s September median listing price was $797,000, down 3.2% from August and 5.4% year over year. The median sold price was $750,000, down 8.1% monthly but only 1.6% annually, while price per square foot declined 4% year over year to $534. The large monthly sold-price drop is likely influenced by the types of properties that closed and should not be applied broadly to individual homes. The more durable signal is that both asking prices and price per square foot have softened compared with last year. View San Pedro market data.

Inventory remains balanced, but buyers have time to compare.

San Pedro had 255 active listings, down approximately 1% from both August and last September. Median market time was 54 days—essentially unchanged annually—and properties averaged approximately 100% of asking price. The ZIP codes remain different: 90731 averaged 47 days on market versus 59 days in 90732. This reinforces the need to price by neighborhood and property type rather than using one San Pedro-wide adjustment.

Financing is now the dominant headwind.

The 30-year fixed-rate average jumped from 7.03% to 7.28% on October 1, its largest weekly increase in four years. On an $800,000 loan, that adds approximately $135 per month in principal and interest in one week—and about $340 per month since August 20. This is consequential, not weekly noise: some buyers who qualified in August may no longer qualify for the same price, while others will reduce offers to preserve their target payment. Freddie Mac mortgage-rate archive.

No consequential new San Pedro residential approval or construction announcement surfaced this week.

Practical strategy

• Pricing: Base recommendations on the newest competing listings, pendings and property-specific closed sales. Avoid pricing from the headline monthly median.
• Listing timing: Sellers ready now should not delay solely hoping rates improve. Launch in excellent condition and within the current competitive range.
• Negotiations: Compare the effect of a seller credit or rate buydown with a straight price reduction. At current rates, financing assistance may produce greater immediate payment relief.
• Buyers: Refresh preapproval and monthly-payment figures before writing an offer. Target listings beyond 30–45 days, particularly in 90732.
• Sellers: San Pedro is balanced and active, but overpriced listings are increasingly vulnerable. Accurate initial pricing is being rewarded.