All Downtown

$200,000-$399,999

This segment of Downtown’s market is really dwindling because there aren’t many options under $399,999. When I started doing these updates back in Q4 of 2014, there were 166 sales during that quarter, 53 of which were in this segment. That means this price range accounted for 31.9% of the activity for that quarter. In Q4 of 2021, only 19 of the 272 sales happened in this price range. That is only 7.0%. It is also important to note that 13 of the 15 available listings in this price range are located in the Hardrock Hotel, which are only available for 28 days a year for owners to use. The remainder of the year, the properties are rented out by the hotel, which manages the rooms, and the owners make rental income.

$400,000-$599,999

To say this price range is low on inventory is a drastic understatement. There are currently 33.3 properties selling in this price range per month on average, but there are only 6 active listings. That means there is only a 0.18 month supply of inventory. There are also 21 properties under contract in this price range.

$600,000-$799,999

If we compare this price range to 1 year ago, the number of sales during the quarter is up 8.2% and inventory is down -81.1%! While number of sales are down about -20.5%, there are only 9 active listings in this price range, which is a -40.0% decrease from last quarter.

$800,000-$999,999

Over the last year, Downtown San Diego has seen tremendous growth in this price range. The number of sales are up +94.1% compared to 1 year ago. This is largely attributed to prices pushing up. Properties that were in the $600,000-$799,999 price point are now in this segment.

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

This is only 1 of 2 price ranges that had growth in the number of sales from Q3 of 2021 to Q4 of 2021. While it was only a +2.6% increase, there was a +160% increase when compared to 1 year ago. On top of that, there are currently more properties in escrow than there are for sale and inventory is down -23.4%. Properties with a view are moving very quickly in this price range.

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

The number of sales in this price range is down -28.6% in comparison to last quarter, but there are also currently 7 properties in escrow in this price range. That would suggest that this price point will start 2022 off strong. There are currently only 6 active listings, so there are more homes in escrow than there are available for buyers.

> or = $2,500,000

This is the second price point that had increased activity in Q4, but with such a small sample size one sale means a lot. That being said, there are currently 10 properties active, which is a -28.6% decrease in active listings. While 10 listings may seem like a lot if there are 5 homes to sell in the last quarter, that includes homes ranging from $2,595,000 all the way up to $11,950,000.

*All information is deemed reliable, but not guaranteed. Information obtained through the San Diego MLS on January 3rd, 2022.