October 2016 Market Update – Downtown San Diego Condo Market
While the number of sales dropped in September, the average sales price and price per square foot continue to rise. The average sales price jumped from $580,242 in August to $694,978 in September (19.7% increase). The average sales price per square foot also increased 3.2% to $576 from the previous month. That is the highest it has been since October 2006!
Inventory continues to drop, which is partially why the number of sales fell in September. We are currently at only a 2.4 month supply. That is the lowest it has been in over 10 years! The number of active listings dropped below 200 to just 188 homes on the market. The number of listings hitting the market started its decent into the holiday season, which means less competition for sellers and less options for buyers. This is a great time to sell and I know I have many buyers that would appreciate more options to choose from!
If you are looking to purchase a home in Downtown San Diego, it important to have a competitive edge. Find out what mistakes buyers are making when purchasing property downtown. It could cost you time, money, and your perfect home!
Homes are selling quickly and for more money! Learn how to avoid common mistakes sellers are making in Downtown San Diego so you can net more money when selling your home! There is a difference between listing your home and selling it for top dollar.
Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- 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 October 4th, 2016.