February 2017 Market Update – Downtown San Diego Condo Market
In January 2017, we saw another increase in the average sales price(+9.1%), as well as the average price per square foot (+2.9%). This drastic jump in average sales price is more or less just a correction from the drop that happened in October/November (-10.9%). There also was a smaller sample with only 30 sales in Downtown San Diego during the month of January. This is a large drop from the 64 sales we had in December. We should have great positive numbers in the month of February.
We did have some positive growth in the amount of inventory, as well as the number of pending listings. However, we had a substantial drop in the list to sales % and some growth in the average days on market. Property that closed in January sat on the market a bit longer then normal and sold for a lower % when compared to the list price. If we compare it to the year prior, there was a 2.7% difference in the average list to sales price ratio! I expect these numbers to look better in February.
If you are looking to purchase a home in Downtown San Diego, it important to have a competitive edge. Find out what mistakes buyers are making when purchasing property downtown. It could cost you time, money, and your perfect home!
Homes are selling quickly and for more money! Learn how to avoid common mistakes sellers are making in Downtown San Diego so you can net more money when selling your home! There is a difference between listing your home and selling it for top dollar.
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 February 13th, 2017.
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!
