Downtown San Diego 2024 Market Update

Downtown San Diego had a slow year for home sales in 2024, similar to most other markets. Inventory increased throughout the year but dropped significantly in December. Despite this, sales remained nearly identical to 2023, with just three more homes sold—rising from 546 in 2023 to 549 in 2024 (+0.55%).

However, when comparing to the past decade (2014-2022), sales were down between -27.76% to -59.15%, a dramatic decline. The lowest sales year before 2023 was 2019, with 760 sales—over 200 more than 2024. That figure doesn’t even account for the new construction sales in Savina, which added 285 residences primarily sold in 2019.

Even though sales are down significantly, inventory is currently at about a 3.7-month supply to start 2025, which technically suggests a seller’s market. But the reality is more complicated. Some homes—especially those with great views—are selling quickly, but many are sitting on the market for much longer. The average days on market has climbed to 61 days, a 96.8% increase from before.

For sellers, understanding market conditions and positioning your home correctly is crucial. Many listings are failing to sell and are being pulled off the market, often ending up as rentals instead. If you’re thinking about selling, it’s important to work with someone who knows how to navigate this shifting market and will be honest about what to expect.

Sign Up For Our Newsletter

A Downtown Professional You Can Trust!

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!