September 2016 Market Update – Downtown San Diego Condo Market
Downtown San Diego had another steady month, with 92 total sales in the month of August. While there was a significant drop in the average sales price, there was also substantial growth in the sales price per square foot for the month. The average days on market also grew by 38.5%, but is still extremely low at an average time on market of 36 days. This number differs greatly depending on what segment of the market you are analyzing.
While inventory remains extremely low at only a 2.8 month supply, we are seeing a growth in the number of available listings as well as a drop in the number of homes sold. If you look at the number of listings pending, you will see that we will probably see the number of sales drop yet again in September as we go into fall. Keep in mind, this is a trend that tends to happen year over year. Not only does the number of sales drop, so do the number of new listings. This means if you are looking to sell during this time, you tend to have less competition.
If you are looking to purchase a home in Downtown San Diego, it important to have a competitive edge. Find out what mistakes buyers are making when purchasing property downtown. It could cost you time, money, and your perfect home!
Homes are selling quickly and for more money! Learn how to avoid common mistakes sellers are making in Downtown San Diego so you can net more money when selling your home! There is a difference between listing your home and selling it for top dollar.
Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- Median Price Per Square Foot ($)
Average Vs. Median Market Time
- Average Market Time
- Median Market Time
Average Vs. Median Active Market Time
- Average Active Market Time
- Median Active Market Time
Months Supply of Inventory Actual
# Active Listings / # Sales That Month
Months Supply of Inventory Forecast (Pending Listings)
# Active Listings / # Pending That Month
Average Vs. Median List to Sales Price (%)
- Average List to Sales (%)
- Median List to Sales (%)
Number of Sales
Sales Volume ($) in the Millions
*All information is deemed reliable, but not guaranteed. Information obtained through the Sandicor MLS on September 5th, 2016.