2023 Quarter 1 – Downtown San Diego Housing Market

Downtown San Diego’s sales in Quarter 1 of 2023 are down drastically when compared to a year ago, but that is to be expected. In Quarter 1 of 2023, there were only 115 sales, which is down -53.4% compared to Quarter 1 of 2022. See that stat may be shocking, but what is interesting is inventory remains extremely low. We went into Quarter 2 of 2023 with only 86 active listings and an additional 40 properties under contract. Keep in mind, prior to the COVID real estate boom, Downtown San Diego typically hovered around 250-350 listings at any given time. If you look back at Quarter 1 of 2020, you will see Downtown San Diego had 271 active listings with an additional 50 homes under contract. Inventory across the county remains extremely low and Downtown San Diego is following that same trend.

Inventory versus activity is imbalanced, which is typically the case. Approximately 77.4% of the sales activity happening in Downtown San Diego is occurring below $1,000,000, but only about 52.3% of the actual inventory is under $1,000,000. On the flip side, 22.6% of the sales are happening over $1,000,000, but it accounts for 47.7% of the inventory. Properties above $1,000,000 are still selling fairly well, especially if they are positioned correctly. If you are buying or selling over $1,000,000, it is especially important to work with an agent that understands Downtown San Diego and how to navigate the current market.

Price Range

• $200,000-399,999
• $400,000-599,999
• $600,000-799,999
• $800,000-999,999
• $1,000,000-1,499,999
• $1,500,000-2,499,999
• > or = $2,500,000

Homes Sold

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Months Supply

Available Homes

Homes Sold

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Available Homes

Homes Sold

Average/Month

Months Supply

Available Homes

Homes Sold

Average/Month

Months Supply

Available Homes

Homes Sold

Average/Month

Months Supply

Available Homes

Homes Sold

Average/Month

Months Supply

Available Homes

Homes Sold

Average/Month

Months Supply

Available Homes

And Always Remember, It Matters Who You Work With!

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!

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