Downtown San Diego Market Update – October 2025
Downtown San Diego showed a subtle but important shift last month. In October, 47 condo sales closed, tying for the highest monthly total of the year and marking a welcome uptick in activity. However, most of that movement was in the lower price ranges, signaling that affordability continues to drive the market. Higher-end two-bedroom homes that led the way earlier in 2025 have cooled, while smaller condos have taken the spotlight. Meanwhile, inventory fell to 223 active listings, the first meaningful drop all year after a long stretch of steady increases. That translates to roughly a 4.74-month supply of inventory — a level that would typically indicate a balanced market, but day-to-day conditions still feel much more favorable for buyers.
Even with fewer listings, properties are taking longer to move. The average days on market has climbed to 117, which is high even by Downtown standards, and roughly 24% of listings have been re-listed after not selling the first time. On top of that, about one-third of all active homes have seen price reductions, reflecting sellers’ growing willingness to adjust to buyer expectations. Despite these slower dynamics, the tightening inventory could help stabilize pricing and set the stage for a more balanced start to 2026 — especially if interest rates ease and buyer confidence improves heading into the new year.
Adding to the evolving landscape, developers continue to reshape Downtown’s future. One notable example is the office-to-hotel conversion at Broadway and First Avenue, where a recently renovated Class-A office building is being repurposed in response to ongoing office market softness. Projects like this highlight how Downtown San Diego is adapting — not just to current market challenges, but to long-term shifts in how people live, work, and stay in the urban core.
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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
New Listings
Active Listings
Pending Listings
Sales Volume ($) in the Millions
*All information is deemed reliable, but not guaranteed. Information obtained through the San Diego MLS on November 5th, 2025
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