August 2019 Market Update – Downtown San Diego Condo Market
When looking at the resale market, the number of sales went up by 17.9% and the number of listings to go into escrow went up by 30.4% if compared to June. The average market time also went down from 45 days to 40 days. While this all sounds good, inventory seems to be on an upward trajectory. It didn’t increase over the last month, but if we look at the available inventory, it doesn’t match what is actually selling. The current average list price for a downtown San Diego condo is at $943,411, while the average sales price last month was $619,704. That is a difference of $323,707, or 34.3%!
Many of the luxury buyers in Downtown San Diego are going for new construction. With Savina currently working on closing out people that were in contract pre-construction, there were 85 Savina home sales in the month of July. That equated to a total volume of $89.3 million in sales for an average price of $1,145,015!
If you are looking to purchase a home in Downtown San Diego, it important to have a competitive edge. Find out what mistakes buyers are making when purchasing property downtown.
As the market heads towards a balanced market, now more than ever it is important to work with a professional! Learn how to avoid common mistakes sellers are making in Downtown San Diego so you can net more money when selling your home! There is a difference between listing your home and selling it for top dollar.
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- Median Price Per Square Foot ($)
Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Market Time
- Average Market Time
- Median Market Time
Average Vs. Median Active Market Time
- Average Active Market Time
- Median Active Market Time
Months Supply of Inventory Actual
# Active Listings / # Sales That Month
Months Supply of Inventory Forecast (Pending Listings)
# Active Listings / # Pending That Month
Average Vs. Median List to Sales Price (%)
- Average List to Sales (%)
- Median List to Sales (%)
Number of Sales
Sales Volume ($) in the Millions
*All information is deemed reliable, but not guaranteed. Information obtained through the Sandicor MLS on August 12th, 2019.