March 2017 Market Update – Downtown San Diego Condo Market
We are finally seeing an increase in inventory and new listings, as well as a boost in the number of sales. Even with this growth in the number of new and active listings, Downtown is still extremely low on inventory and we are below the curve of 2016. The good news is the market is extremely active. Not only was there a large spike in new and active listings, we saw a drastic jump in the number of sales and homes that went into escrow in February. That is a win/win situation for both buyers and sellers.
Buyers have more options. Without options, it is hard to make a decision. If you walked into a store and it was filled with only one style and color shirt, you probably wouldn’t buy. Without the option to choose what you like, you would probably wait until you can go to the next store with more options. Real estate is exactly the same. When there is an extreme shortage of inventory, sales often slow down and buyers leave the market.
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!
Homes are selling quickly and for more money! 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 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 March 6th, 2017.