May 2018 Market Update – Downtown San Diego Condo Market
Inventory has been steadily growing in downtown. We are now at a 4 month supply of inventory, which is a sign that we are entering a more balanced market. The inventory differs greatly depending on the price ranges. Under $700k, majority of the listings still sell quickly if priced right. Above $700k, the market is a bit more saturated. Overall, the number of sales over the last 12 months has been fairly consistent, while the number of listings available has been growing.
I am working on the numbers from Pacific Gate, but so far, I only have the month of March. The charts below do not include new constructions sales, as they are not posted on the MLS. In March, there were 50 closings in Pacific Gate, with an average price of $1.6 million! This is partially why it appears we are gaining inventory and the luxury market is slowing down. Buyers can now choose between new construction and resale.
If you are looking to purchase a home in Downtown San Diego, it important to have a competitive edge. Find out what mistakes buyers are making when purchasing property downtown. It could cost you time, money, and your perfect home!
Homes are selling quickly and for more money! Learn how to avoid common mistakes sellers are making in Downtown San Diego so you can net more money when selling your home! There is a difference between listing your home and selling it for top dollar.
Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- 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 May 2nd, 2018.
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