All Downtown

$200,000-$399,999

This segment is technically the only segment that had a decrease in activity, but I think that really has to do with the fact that there is less and less available under $400,000. Prices in this range have been pushing up for some time and it is causing this segment’s activity to shrink. There are currently 21 options on the market under $400,000, with an additional 15 properties that are under contract. This segment accounts for 9.26% of the sales in Downtown and represents 13.55% of the current inventory.

$400,000-$599,999

This is one of the most competitive ranges in Downtown. With an average of 46.67 homes selling per month and only 46 listings on the market, we are just below a 1 month supply of inventory. While 46 options may sound like a lot, you have to remember that the actual residences in Downtown San Diego vary so much that there really isn’t much to choose from if you’re looking for something specific. This price range accounted for 37.0% of the sales in Q2, which is the highest of any range. It accounts for 29.7% of the inventory, which is also the highest when compared to the other price ranges.

$600,000-$799,999

This segment of the market has the lowest available inventory in Downtown San Diego. There are approximately 32.67 homes selling per quarter and only 31 homes on the market. 27 residences are currently under contract in this price range. 25.9% of homes sold in Downtown last quarter fell in this range and it currently accounts for 20.0% of the available inventory.

$800,000-$999,999

There was an average of 32.67 homes selling per month in this price range, which is extremely high compared to previous quarters. That is a 53.1% jump when compared to last quarter and a 308% when compared to Q2 of 2020! Inventory is down to just a 1.26 month supply and there are currently only 18 listings on the market right now, with 8 additional residences in escrow. 11.4% of the sales in Downtown San Diego fell in this range and it accounts for 11.6% of the available inventory.

$1,000,000-$1,499,999

This price range is where things begin to get really interesting. An average of 12 homes sold per month in this price range, which is a +71.4% increase when compared to Q1. The available inventory dropped down to 1.33 months, which is a decrease of -76.1%! There are currently only 16 options in all of Downtown San Diego in this price range and there are 16 properties in escrow! This segment of the market represented 9.5% of the sales in Downtown and currently makes up 10.3% of the available inventory.

$1,500,000-$2,499,999

Typically this range is a strong buyers market, with plenty of options available. Currently there are only 9 listings for sale in this price range and with an average of 5 selling per month, we are under a 2 month supply of inventory. On top of that, there are currently 6 homes in escrow in this price range. In Q1 of 2021, there were only 2 sales in this price range, but in Q2 of 2021 there were 15. That is an increase of +650%! This price range made up 4.0% of the sales in Downtown San Diego and makes up 5.8% of the available inventory.

> or = $2,500,000

This is the most shocking increase in Downtown San Diego. Last quarter, there were 11 sales above $2,500,000 in Downtown San Diego. Typically we are lucky if we have 10+ sales in a 12 month period in this price range! With an average of 3.67 homes selling per month last quarter and 15 homes on the market, this segment of the market dropped below a 6 month supply for the first time in as long as I can remember. There are also currently 3 homes under contract in this range, which puts Q3 off to a strong start as well. While these numbers are impressive, this price range only made up 2.9% of the sales last quarter and it currently accounts for 9.7% of the inventory.

*All information is deemed reliable, but not guaranteed. Information obtained through the San Diego MLS on July 7th, 2021.