June 2017 Market Update – Downtown San Diego Condo Market
We saw a 30.3% increase in the number of sales from April to May of 2017, but the inventory continues to grow. We hit a 3.2 month supply, which is the highest it has been since October 2015. Typically Spring sees the highest number of new listings and this year is no different. There were 148 properties listed in the month of May. In Downtown San Diego, we also hit the highest average price per square foot since October 2006.
Even though the inventory is growing, it is still really low. This, of course, isn’t taking into consideration a large majority of the new construction options. Downtown San Diego now has 2 new buildings for sale, Pacific Gate and Savina. These luxury high rise condominiums are still under construction. Not only are there approximately 300 new home residences available between the two new towers, they will also free up some resale options as people sell their current residences to make the transition to Pacific Gate and Savina.
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. It could cost you time, money, and your perfect home!
Homes are selling quickly and for more money! 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.
Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- Median Price Per Square Foot ($)
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
Sales Volume ($) in the Millions
*All information is deemed reliable, but not guaranteed. Information obtained through the Sandicor MLS on June 12th, 2017.
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!