March 2016 Market Update – Downtown San Diego Condo Market
It is fairly common for the first of the year to drop in sales for several reasons. The number of listings that hit the market in December of 2015 was extremely low. Without new inventory, the number of sales drop and this passes over to the beginning of the new year. We saw a huge spike in the number of homes go into escrow in February 2016. The real indicator of the market is the lack of inventory. The number of sales are down, but this is due to the fact that there aren’t enough homes for buyers to choose from. We have under 3 months supply in Downtown San Diego and it seems the inventory is continuing to shrink. If we compare February 2015 to February 2016, we went from 250 listings down to 201. That is about a 20% decrease in the amount of available homes on the market. There is currently only one building that is under construction planned to be sold as condos and it does not fill the lack of inventory we have for property under $1 million.
Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- Median Price Per Square Foot ($)
Average Vs. Median Market Time
- Average Market Time
- Median Market Time
Average Vs. Median Active Market Time
- Average Active Market Time
- Median Active Market Time
Months Supply of Inventory Actual
# Active Listings / # Sales That Month
Months Supply of Inventory Forecast (Pending Listings)
# Active Listings / # Pending That Month
Average Vs. Median List to Sales Price (%)
- Average List to Sales (%)
- Median List to Sales (%)
Number of Sales
New Listings
Active Listings
Pending Listings
Sales Volume ($) in the Millions
*All information is deemed reliable, but not guaranteed. Information obtained through the Sandicor MLS on March 22nd, 2016.
