July 2018 Market Update – Downtown San Diego Condo Market
Inventory in the resale market has been steadily growing all year and is now up to a 4.6 month supply. The number of active listings has gone up by 42.2% when compared to last year. I believe some of this inventory is attributed to people preparing to make the move to new construction, such as Pacific Gate, Savina, and The Park. The stats below only show what is going on in the resale market.
The number of sales has stayed steady over the last year and the average price per square foot continues to climb. If we compare the average price per square foot of $631 is up by 6.1% compared to June of 2017. While inventory is growing, it isn’t equally spread across all price ranges. While the luxury market above $800,000 reflects more of a balanced market, under $800,000 still remains relatively low on inventory.
If you are looking to purchase a home in Downtown San Diego, it important to have a competitive edge. Find out what mistakes buyers are making when purchasing property downtown. It could cost you time, money, and your perfect home!
As the market heads towards a balanced market, now more than ever it is important to work with a professional! Learn how to avoid common mistakes sellers are making in Downtown San Diego so you can net more money when selling your home! There is a difference between listing your home and selling it for top dollar.
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- 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 July 19th, 2018.