July 2020 Housing Market – Downtown San Diego Condo Market

The monthly breakdown over the last 3 months tells an important story. When the US went on lockdown in March, real estate was deemed non-essential. The housing market came to a screeching halt. A few weeks later, real estate was deemed essential with the necessary precautions.

April and May saw drastic decreases in the number of homes to sell, but in June we saw the number of homes to sell rise by +71.4%. Furthermore, we saw 84 homes go pending during the month of June, which is a 3+ year high. Inventory had shot up due to the lack of sales, but I think we will see that number come back down to a 4-5 month supply of inventory over the next month or two.

So many people ask me “How’s the market?”, but as you can see there isn’t a one size fits all answer. Are you a buyer or seller? What price range are you looking to buy/sell in? Do you have time to wait for the right deal or find the right buyer? Questions like these are important to understanding how your market is.

If you are looking to purchase a home in Downtown San Diego, it important to have a competitive edge. You need a guide through this complex real estate market, especially during these times. Our team prides ourselves in the research and market knowledge we posses.

It is also even more important as a seller to chose an agent that will give you the best chances of selling your home. Through our extremely high marketing standards and innovative techniques, such as 3-D tours, let us help you through the selling process in this complicated market.

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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!