September 2017 Market Update – Downtown San Diego Condo Market
The average sales price hit a 12 month high in Downtown San Diego for the month of August. The average sales price is up 20.8% from August 2016 to August 2018. The average price per square foot also broke $600, which is a significant leap. The average price per square foot is up 8.0% from August 2016 to August 2017. This growth will hopefully drive more developers to tackle condo projects in Downtown San Diego. Currently Bosa Development is the only builder that has condo projects under construction. We need more “for sale” new construction to fill the demand.
Inventory has been fairly consistent over the last five months. There was a drastic jump in the average days on market in July, but this month we saw that number come back down under 30 days. Overall, sales are really steady and line up well with the amount of property hitting the market. While it is still a seller’s market, buyers above $500,000 seem to have a relatively even playing field. Good property is selling fast, but we typically aren’t seeing multiple offers and there is usually some wiggle room in the price.
If you are looking to purchase a home in Downtown San Diego, it important to have a competitive edge. Find out what mistakes buyers are making when purchasing property downtown. It could cost you time, money, and your perfect home!
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Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- 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 September 14, 2017.