Former San Diego City Council Member Carl DeMaio, a Republican challenging freshman Rep. Scott Peters, D-Calif., raised more than $325,000 in the third quarter, his campaign announced Wednesday.

DeMaio now has more than $700,000 in the bank more than a year from the election, when the 52nd District is expected to host one of the most competitive contests of the cycle.

His haul is also remarkable because DeMaio had toyed with running for mayor of San Diego instead for much of the third quarter. There is currently a special election to replace former San Diego Mayor Bob Filner, who resigned in the wake of a sexual harassment scandal. DeMaio lost to Filner in the 2012 mayoral contest by a slim margin.

But DeMaio opted to continue his congressional bid, which has received support from House GOP leadership, including Speaker John A. Boehner of Ohio and House Majority Whip Kevin McCarthy of California.

The 52nd District contest is expected to be one of the marquee races this cycle. In 2012, Peters defeated GOP Rep. Brian Bilbray by a 2-point margin in one of the closest races that year.

California’s 52nd District is rated a Tilt Democratic contest by Rothenberg Political Report/Roll Call.