August 2020 Housing Market – Downtown San Diego Condo Market
County wide, July was one of the busiest months we’ve ever seen. Last month, $2,741,446,891 in real estate traded hands in San Diego County alone. If the number was too long to compute, that is $2.74 billion dollars worth of real estate. That is the highest amount we’ve seen based on the data I have access to, which goes back to January 2004. So what does this mean for Downtown San Diego?
Unfortunately, downtown is one of the slower neighborhoods right now. With restaurants not fully open and COVID changing the way we live our day to day lives, the urban lifestyle seems to be pushed aside. The good news is Downtown San Diego sales and properties to go into contract spiked in July. Unfortunately, so did the number of listings hitting the market. Downtown San Diego remains a balanced market, which isn’t necessarily a bad thing. Buyers have their choice of great options and sellers are having to participate in some healthy competition in order to sell.
I do believe once things begin to return back to normal, the urban lifestyle will come back strong. Downtown has a bright future with everything planned and I look forward to seeing what is in store. My biggest hope is that downtown begins a live, work, play location. Right now, many of the residents in Downtown actually work outside of the city. Unlike most cities, we have a reverse commute. With Horton Plaza’s remodel, Bosa Development’s new office building, and the new announcement of changes happening to Manchester’s Pacific Gateway, I am hoping this will bring more jobs to Downtown.
So many people ask me “How’s the market?”, but as you can see there isn’t a one size fits all answer. Are you a buyer or seller? What price range are you looking to buy/sell in? Do you have time to wait for the right deal or find the right buyer? Questions like these are important to understanding how your market is.
If you are looking to purchase a home in Downtown San Diego, it important to have a competitive edge. You need a guide through this complex real estate market, especially during these times. Our team prides ourselves in the research and market knowledge we posses.
It is also even more important as a seller to chose an agent that will give you the best chances of selling your home. Through our extremely high marketing standards and innovative techniques, such as 3-D tours, let us help you through the selling process in this complicated market.
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- Median Price Per Square Foot ($)
Average Vs. Median Sales Price in 92101
- Average Sales Price
- Median Sales Price
Average Vs. Median Market Time
- Average Market Time
- Median Market Time
Average Vs. Median List to Sales Price (%)
- Average List to Sales (%)
- Median List to Sales (%)
Months Supply of Inventory Actual
# Active Listings / # Sales That Month
Number of Sales
Sales Volume ($) in the Millions
*All information is deemed reliable, but not guaranteed. Information obtained through the San Diego MLS on August 3rd, 2020.