April 2023 Housing Market – Downtown San Diego Condo Market

In March, there were 53 sales in Downtown San Diego, which is a significant jump when compared to January and February. In February, there were only 33 sales so we saw an increase of +61% in March! In the year over year comparison, the number of sales is down -47% when compared to March 2022 (100 sales). While there are less sales happening, there are also significantly less listings hitting the market. While we saw 226 new listings hit the market during February-March 2022, we only had 113 new listings during March-February of this year. That is -50% less new inventory. Since June of 2022, inventory has remained fairly consistent, hovering between a 1.3-1.6 month’s supply.

If we analyze San Diego County, we’re following very similar trends. March 2023 actually had 2,185 sales, which is the first time in 6 months that we passed the 2,000 mark. Typically we see about 3,000 sales a month in March. If you average March sales from 2017-2022, we average 3,161 sales in March. That means sales are down about -31%.

There were 2,255 new listings in March across San Diego County, which is still a lot less than the 4,000-5,000 we typically see. If we average March’s new listings from 2017-2022, we typically see an average of 4,465 new listings in March. That means new listings are down about -49.5% compared to what we typically see in March. While the number of sales is down about -31%, supply is down by almost -50%.

Each year, I compile the numbers for each individual building and I compare the stats. Click here to see the most recent Downtown San Diego building stats.

And Always Remember, It Matters Who You Work With!

Give me a call today at (619) 228-6790 or email me at Ryan@livingthesandiegolife.com for more information or to schedule a tour of the neighborhood!