March 2018 Market Update – Downtown San Diego Condo Market
The number of sales in February didn’t do much better than January, which is surprising. The number of homes that went into escrow in January and February haven’t reflected in sales, as expected. I am hoping we see a good amount of growth in the number of sales this month. With less sales happening and a steady amount of listings hitting the market, we have seen a growth in the number of active listings, as well as inventory. We are at a 3.7 month supply.
Surprisingly the average market time for homes selling has been consistently declining that last 3 months. That is a bit unexpected, especially since the inventory has been growing and the number of sales have been declining. There has been a lot of activity in the lower ranges, which has caused the average and median sales price to decline.
Pacific Gate as began closing sales, which won’t reflect in my stats because they are based on MLS listing/sales. A vast majority of sales in Pacific Gate are over $1,000,000 and there are quite a bit that are above $2,000,000 as well. If we were able to include these numbers, the luxury market would see a huge boost this month!
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Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- 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 March 6th, 2018.