July 2015
Second quarter of 2015 was on fire! In quarter 4 of 2014 we were at an average of 55.33 homes sold per month. We then jumped up to an average of 59.67 homes sold each month in quarter 1 of 2015. In quarter 2 of 2015, Downtown San Diego was averaging 86.33 homes per month! That is a 44.7% increase!
Downtown inventory has dropped well below a 3 months supply again. One important factor to look at is the improvement of the market as a whole. It is a great time to be a seller! If you are looking to purchase a home, do not lose hope, but know that it is extremely important to work with a professional that knows the neighborhood!
All Downtown
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
$200,000-$399,999
This segment had the highest number of sales this quarter. It has jumped up to an average of 30.33 sales per month compared to Q1, which was averaging only 16 homes per month. While there are currently more listings going in to quarter 3, demand is outweighing supply.
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
$400,000-$599,999
This was a close second place for the number of homes sold in quarter 2. With the number of sales growing and number of active listings staying relatively flat, supply has been decreasing drastically. This segment is now below a 3 month supply. There are currently 43 properties in escrow in this price range, yet there are only 68 listings.
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
$600,000-$799,999
This range still remains the tightest segment of the market, with less than a 2 month supply! There are more properties in escrow than there are active! With a growing number of sales per month, a shrinking inventory, and a surplus of demand, there isn’t a better position to be in if you are considering selling! Calling all sellers!
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
$800,000-$999,999
This price range continues to stay relatively flat with listings remaining in the low 20’s and averaging about 5 sales per month. Homes that are accurately priced sell quickly in this range, but there are also listings that continue to sit. The current average days on market for the 23 active listings is 44 days, while the average days on market for the 15 sold is 27 days.
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
$1,000,000-$1,499,999
This range remains one of the hottest segments of the market. With shrinking inventory and the number of sales rising, it has dropped below a 3 month supply! Accurate pricing still remains important in this range, but with only 14 competing listings, sellers do not have much competition.
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
$1,500,000-$2,499,999
The luxury market in downtown San Diego continues to grow. We are almost down to a 3 month supply in this range. With 4 currently in escrow and a total of only 10 active listings, we are seeing this segment begin to tighten up. Bosa’s newest project appears to come just in time!
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
> or = $2,499,999
This portion of the market really shocked me. From April 1, 2013 – March 31, 2014 there were only 2 sales $2,500,000+. In this last quarter alone there were 4 sales! I still believe it is a buyer’s market, but I feel this quarter shows that buyer confidence in the luxury market has come a long way.
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
*All information is deemed reliable, but not guaranteed. Information obtained through the Sandicor MLS on July 6th, 2015.
