September 2021 Housing Market – Downtown San Diego Condo Market
The inventory chart is likely one of the biggest indicating factors as to how the Downtown San Diego housing market is doing. In September 2020, we had a 5.8 month supply of inventory, where as in September 2021 we only have a 1.2 month supply (-79.3%). That is a drastic 12 month change. Seeing as how “Inventory = # Active Listings / # Sales That Month” there are only 2 things that effect inventory.
The number of active listings has been declining at a at a rapid rate. In September 2020 there were 360 active listings, which is a considerable amount of options. However, in September 2021 there were only 122 active listings. That is a -66.1% decline in the number of available listings. On top of that, in September 2020 there were 91 homes to sell in Downtown San Diego. This last September (2021), there were 125 residences to sell. That is a +37.4% increase in the number of sales. This has caused inventory to plummet over the last 13 months.
This shortage in inventory has been causing the prices to rise steadily. I typically focus on price per square foot as a more general indication of what prices are doing in downtown. From September 2020 to September 2021, average price per square foot has gone up approximately +16.6%! The average sales price over that same span of time has also increased by +16.8%, or +$109,155.
Overall, the Downtown San Diego housing market continues to strengthen for sellers. The number of new listings will likely decline in the last few months of this year so I suspect inventory will continue to tighten.
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- Median Price Per Square Foot ($)
Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Market Time
- Average Market Time
- Median Market Time
Average Vs. Median List to Sales Price (%)
- Average List to Sales (%)
Months Supply of Inventory Actual
# Active Listings / # Sales That Month
Number of Sales
Sales Volume ($) in the Millions
*All information is deemed reliable, but not guaranteed. Information obtained through the San Diego MLS on October 25th, 2021.