July 2019 Market Update – Downtown San Diego Condo Market
We saw a spike in the number of sales in May, but that number dropped from 74 to 55 in June. In June 2018, we had 83 sales in downtown, which was the busiest month of last year. We also saw an increase in the number of active listings this month, so overall inventory is now up to 5.7 months. This is only analyzing the resale market, but to understand the big picture in downtown, we have to consider new construction.
Savina began closing their first residences on June 2nd. From what I have heard, they are averaging 3-4 closings per business day and the closings continue through August. After they close out all of the homes that were under contract, sales will continue to trickle through. I haven’t received the latest numbers yet, but I would estimate around 70% of the units in the building are accounted for. There are still plenty of great options to choose from if you are still considering the project.
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
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 July 9th, 2019.
And Always Remember, It Matters Who You Work With!
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!
