25Oct
By: Ryan Ponce On: October 25, 2022 In: Downtown San Diego, Market Update Comments: 0

2022 Quarter 3 – Downtown San Diego Housing Market

Much like the rest of the county, sales in Downtown San Diego have been slowing down drastically. In fact, if we compare Quarter 3 of 2022 to Quarter 3 of 2021, sales are down -44.41%! When I hear this stat, the first thing I would think of is that there must also be a surge in homes on the market because less are selling. That surprisingly is not the case. In Quarter 3 of 2022, we had 101 listings and now we are only at 112 (+10.89%). Downtown San Diego still has very low inventory, with just a 1.78 month’s supply. To put it into perspective, from 2012-2020 the number of available listings ranged from 250-400 properties at any given time. During that same timeframe, the month’s supply of inventory was usually between a 3 to 6 months’ supply. As you can see, inventory is still incredibly low compared to historic numbers.

In addition to still having inventory issues, we are seeing more activity in the higher price ranges. In Quarter 3 of 2021, 26.76% of sales were over $800k and only 16.5% of sales were over $1m. In Quarter 3 of 2022, 44.44% of sales were over $800k and 25.40% were over $1m. If you want a more in depth breakdown on a monthly basis, see my October Market Update for Downtown San Diego. 

All Downtown

Homes Sold

3 Months - 189 Homes
6 Months - 465 Homes
12 Months - 993 Homes

Average/Month

  • 12mo
  • 6mo
  • 3mo

Months Supply

  • 12mo
  • 6mo
  • 3mo

Available Homes

  • Active
  • Pending

> or = $2,500,000

Homes Sold

3 Months - 3 Homes
6 Months - 14 Homes
12 Months - 30 Homes

Average/Month

  • 12mo
  • 6mo
  • 3mo

Months Supply

  • 12mo
  • 6mo
  • 3mo

Available Homes

  • Active
  • Pending

*All information is deemed reliable, but not guaranteed. Information obtained through the San Diego MLS on November 5th, 2022.

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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