December 2016 Market Update – Downtown San Diego Condo Market
In the last 3 months, the number of available listings has taken a huge downward dive. It went from 205 listings in August all the way to 144 listings in November. That is 35% less inventory than we had in November of 2015. We also had 35% less new inventory hit the market. With the lack of inventory, sales tend to follow, which means there will most likely be a large drop in the number of sales over the next month. If people have the ability, they will often wait until they have more options to choose from.
The sales prices and price per square foot have also dropped slightly, but I think that is mainly due to an increase in sales in the lower price ranges when compared to the luxury market. Furthermore, the pre-sales in Pacific Gate are not taken into consideration, which would definitely raise these numbers.
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Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- Median Price Per Square Foot ($)
Average Vs. Median Market Time
- Average Market Time
- Median Market Time
Average Vs. Median Active Market Time
- Average Active Market Time
- Median Active Market Time
Months Supply of Inventory Actual
# Active Listings / # Sales That Month
Months Supply of Inventory Forecast (Pending Listings)
# Active Listings / # Pending That Month
Average Vs. Median List to Sales Price (%)
- Average List to Sales (%)
- Median List to Sales (%)
Number of Sales
Sales Volume ($) in the Millions
*All information is deemed reliable, but not guaranteed. Information obtained through the Sandicor MLS on December 5th, 2016.