February 2022 Housing Market – Downtown San Diego Condo Market
In February, the average sales price in Downtown San Diego was $916,986. That is +34.9%, or $237,273 higher when compared to February 2021! Why is there such a drastic change in just 1 year? Downtown San Diego, much like the rest of the county, has a shortage of inventory. We went from 246 listings in February 2021, down to just 82 listings. That is a decrease of -66.7% in just one year. Inventory, which takes into consideration the number of available listings and the number of sales each month, is down by -76.5%. This is pushing values up at an incredibly fast rate.
While we are starting to see an increase in inventory, it is still drastically lower than what is needed to meet demand. Buyers are having to compete for property. In February, the average list to sales price was 103.7%. This means sellers are getting +3.7% over their asking price. One year prior, the average list to sales price was only 97.1%! Market time is also down to just 14 days, which is -73.6% lower than February 2021.
Each year, I compile the numbers for each individual building and I compare the stats. Click here to see the list of Downtown San Diego building stats for 2021.
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- Median Price Per Square Foot ($)
Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Active Market Time
- Average Active Market Time
- Median Active Market Time
Average List to Sales Price (%)
- Average List to Sales (%)
Months Supply of Inventory Actual
# Active Listings / # Sales That Month
Number of Sales
Sales Volume ($) in the Millions
*All information is deemed reliable, but not guaranteed. Information obtained through the San Diego MLS on March 3rd, 2022.
Sign Up For A Free Home Valuation!
And Always Remember, It Matters Who You Work With!
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!