December 2023 Housing Market – Downtown San Diego Condo Market
Downtown San Diego has been moving very slowly lately. This isn’t just referring to the number of sales. While there haven’t been a lot of sales occurring, listings are also down. Additionally, the average sales price and price per square foot continue to remain fairly consistent in an uptrend. The average list to sales price is over 98%, which is higher than average for Downtown San Diego.
As previously mentioned, the number of listings continues to grow slowly. While we went from 100 in January 2023 to 138 in January 2024, that is still dramatically lower than our normal range. A 38% increase in listings over the course of 1 year may seem like a lot, but we had 249 listings to start the year in January 2020. That means we only have about 55% of the inventory we had at a normal pre-pandemic level.
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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 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
Months Supply of Inventory
While we have less active listings compared to the last 2 months, inventory continues to slowly rise. This is due to the extremely low number of sales for the month of December. The current 4.8 month’s supply of inventory suggests it is a balanced market for buyers and sellers.
Number of Sales
Downtown San Diego had less than 1 sale per day, which is the slowest month I have seen on record. The previous low of 31 sales in one month was held by January 2023. December is typically a slow month, but if we compare it to December of 2022, we saw a 19.4% decrease in the number of sales.
Sales Volume ($) in the Millions
*All information is deemed reliable, but not guaranteed. Information obtained through the San Diego MLS on January 2nd, 2024.