06Mar
By: Ryan Ponce On: March 6, 2024 In: Downtown San Diego, Market Update Comments: 0

March 2024 Housing Market – Downtown San Diego Condo Market

Downtown San Diego’s inventory continues to rise. The number of active listings went up to 165 options, and with just 43 sales inventory went up to a 3.84 month’s supply. One thing that I found interesting is that the average days on market for properties sold last month was 33 days, but the current average days on market for property listed is at 55 days. This tells me that properties that are well positioned are still selling in about a month, while options that are improperly priced or that don’t show well continue to sit on the market. The median days on market was just 11 days, meaning more than 50% of the sales that happened in March occurred within the first 2 weeks of listing!

With less buyer activity, it is really important to make sure your home shows well and is priced appropriately. How your home is positioned has a huge impact on the success of the sale. Properly preparing your home plays a vital role in the process and it is something we enjoy helping homeowners with. If you have any questions as to where to start, feel free to reach out to me at (619) 228-6790 and I would be happy to help!

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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

Inventory went up to a 3.84 month’s supply, which is an increase of about 18%. This is to be expected, as more properties tend to be listed at the beginning of the year by owners who held off during the holiday months. Since January and February tend to be slower months, these new listings don’t get absorbed quickly. This increases the month’s supply of inventory.

New Listings

Active Listings

Active Listings

The number of active listings went from 143 to 165, which is an increase of about 15%. That is a fairly substantial increase, but as previously mentioned, there tends to be an influx of listings that hit the market in January and February by sellers that held off through the holidays.

Pending Listings

Sales Volume ($) in the Millions

*All information is deemed reliable, but not guaranteed. Information obtained through the San Diego MLS on March 4th, 2024.

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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!