January 2015
Downtown San Diego’s real estate market hit a slow period in Q3 of 2014 and it started picking up again half way through Q4. This year is off to a great start!
Inventory is still extremely low. Currently there are only 217 listings in Downtown San Diego and 77 properties in escrow! Economists consider a balanced market one which has around a 6 month supply. Downtown has just under a 4 month supply in 92101, making it a great time to consider selling.
These numbers differ drastically depending on the price range that effects you. For specific details, refer to the details and market absorption rates below:
All Downtown
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
$200,000-$399,999
The inventory has grown in this segment of the market, but still remains low at around a 3.5 month supply. There are currently 22 under contract with only 63 active. This segment of the market has had the most sales in the last 12 months.
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
$400,000-$599,999
Currently there are only 59 condos for sale in this range and 29 properties under contract. In the last 6 months, this was the strongest segment with 119 sales and under 3 months supply.
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
$600,000-$799,999
This segment of the market has remained consistent at about a 4.5 month supply over the last year. There are only 44 listings in this category currently and 13 under contract. This range has been very steady throughout the last year.
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
$800,000-$999,999
There is a huge shortage of supply in this portion of the market. Over the last year supply has been shrinking and we are down to a 3 month supply. The number of homes sold per month has also been growing. There are only 16 listings that are active on the market and 9 under contract! This is a great time to sell in this range!
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
$1,000,000-$1,499,999
This portion of the market is very deceiving. The numbers would suggest that it is very slow and there is a 15 month supply that is growing. In reality, I think many sellers that were in the $800,000-$999,999 range decided they could get $1+mil and are listed too high. The good property that is priced right is selling in this range. There are many listings that have been sitting for an extended period of time, which effects the numbers. There are 30 properties currently on the market and 5 in escrow, which would suggest the numbers in the next market report will be very different than they are now.
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
$1,500,000-$2,499,999
Oddly enough, this is a fantastic price range for sellers. There are only 4 active on the market and there are 2 currently in escrow! We are at a 3 month supply at the moment, but the supply is shrinking in this segment.
Homes Sold
Average/Month
- 12mo
- 6mo
- 3mo
Months Supply
- 12mo
- 6mo
- 3mo
Available Homes
- Active
- Pending
> or = $2,499,999
Property in this range is still struggling to sell. There are 9 options for buyers to choose from and only 1 has sold in the last 3 months. Phenomenal property will sell in this range, but it must be priced accordingly.
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 January 22nd, 2015.
