December 2017 Market Update – Downtown San Diego Condo Market
We had a slight reduction in inventory going into December, which is to be expected, but it wasn’t as drastic as I had predicted. We went from having 120+ new listings per month since February 2017 to just 109 in the month of November. This is still drastically higher than November 2016, where we only saw 65 new listings hit the market. I would expect that number to dip a little bit lower in December. We also saw the number of sales drop from 78 in October to 61 in November (-21.8%). What wasn’t expected though, is the number of homes to go into escrow shot from 65 in October to 81 in November (+24.6%). That is 37.3% more homes going under contract when compared to the previous year. We should finish the year with strong sales.
I was actually surprised when reviewing the numbers. Typically, there is a drastic drop in inventory during the holiday season. That hasn’t been the case this year, but December is typically the lowest point, so we will see if that happens over the next 30 days.
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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 December 5th, 2017.