November 2018 Market Update – Downtown San Diego Condo Market
Inventory has decreased slightly for the second month in a row, but typically a larger decrease is anticipated as we head into the holiday months. If you look at the inventory curve in the months of November and December, we saw a very large drop. Last month was the second lowest number of sales we have had in a 14 month period. We had 24.3% less sales when compared to October of 2017 and there were 82 more listings on the market this year. We also saw a large decrease in the number of homes that went into escrow in October.
Despite the decrease in sales, the average sales price in downtown shot up to $715,049, which is the highest it has been in the last 14 months.
As the market slows down and becomes more of a normalized market, it is important to understand why you shouldn’t settle for mediocre.
If you are looking to purchase a home in Downtown San Diego, it important to have a competitive edge. Find out what mistakes buyers are making when purchasing property downtown. It could cost you time, money, and your perfect home!
As the market heads towards a balanced market, now more than ever it is important to work with a professional! Learn how to avoid common mistakes sellers are making in Downtown San Diego so you can net more money when selling your home! There is a difference between listing your home and selling it for top dollar.
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Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- Median Price Per Square Foot ($)
Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Market Time
- Average Market Time
- Median Market Time
Average Vs. Median Active Market Time
- Average Active Market Time
- Median Active Market Time
Months Supply of Inventory Actual
# Active Listings / # Sales That Month
Months Supply of Inventory Forecast (Pending Listings)
# Active Listings / # Pending That Month
Average Vs. Median List to Sales Price (%)
- Average List to Sales (%)
- Median List to Sales (%)
Number of Sales
Sales Volume ($) in the Millions
*All information is deemed reliable, but not guaranteed. Information obtained through the Sandicor MLS on November 6th, 2018.
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!