February 2019 Market Update – Downtown San Diego Condo Market
In the last three months, there has been a significant drop in the number of homes sold in Downtown San Diego. We went from selling an average of 69.7 homes per month the previous 12 months to selling between 41-45 homes in November-January. The slowest month in that previous 12 month period, we sold 55 homes in Downtown. Inventory is currently sitting at a 4.5 month supply, which is down from the November 2018 high of 5.0 months. The good news is the number of homes to go pending went up in January, meaning we will likely have an increase in sales in February.
We also experienced a lower list to sales price in December (94.5%) and January (95.1%). Above $800,000, even homes that are positioned well have faced price reductions and longer market times. I am optimistic this price range will pick up February-April.
If you are looking to purchase a home in Downtown San Diego, it important to have a competitive edge. Find out what mistakes buyers are making when purchasing property downtown.
As the market heads towards a balanced market, now more than ever it is important to work with a professional! Learn how to avoid common mistakes sellers are making in Downtown San Diego so you can net more money when selling your home! There is a difference between listing your home and selling it for top dollar.
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Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- Median Price Per Square Foot ($)
Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Market Time
- Average Market Time
- Median Market Time
Average Vs. Median Active Market Time
- Average Active Market Time
- Median Active Market Time
Months Supply of Inventory Actual
# Active Listings / # Sales That Month
Months Supply of Inventory Forecast (Pending Listings)
# Active Listings / # Pending That Month
Average Vs. Median List to Sales Price (%)
- Average List to Sales (%)
- Median List to Sales (%)
Number of Sales
Sales Volume ($) in the Millions
*All information is deemed reliable, but not guaranteed. Information obtained through the Sandicor MLS on February 4th, 2019.
Give me a call today at (619) 228-6790 or email me at Ryan@www.livingthesandiegolife.com for more information or to schedule a tour of the neighborhood!