September 2018 Market Update – Downtown San Diego Condo Market
For the 8th straight month, the amount of inventory and active listings continues to rise. We are now at a 5 month supply of inventory. That being said, price per square foot went back above $600 and the average sales price jumped up to $685,067. The average market time is still right around 40 days and we had the highest number of homes to into escrow August when compared to the last 14 months.
Good property is still selling quickly. If homes are priced right and marketed properly, they should sell in a reasonable amount of time. There are, however, quite a few homes that are sitting for long periods of time. This is often due to incorrect pricing strategies or the home simply doesn’t show well.
If you are looking to purchase a home in Downtown San Diego, it important to have a competitive edge. Find out what mistakes buyers are making when purchasing property downtown. It could cost you time, money, and your perfect home!
As the market heads towards a balanced market, now more than ever it is important to work with a professional! Learn how to avoid common mistakes sellers are making in Downtown San Diego so you can net more money when selling your home! There is a difference between listing your home and selling it for top dollar.
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- 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 September 10th, 2018.