September 2020 Housing Market – Downtown San Diego Condo Market
Last month, downtown saw a spike in the number of properties to go into contract. In fact, it was an increase of +79.6% when compared to August 2019! There were also 76 sales in Downtown San Diego, which is fairly high for August and a huge improvement from April/May of this year. That being said, inventory has gone from a 4.6 month supply in March to around 6 months in August.
Downtown San Diego is a balanced market, while the rest of San Diego County is extremely hot. In the county, we are at a 1.6 month supply of inventory, which is insanely low! There are only 4,213 listings in San Diego county. In August, 3,008 homes sold and 3,812 homes went under contract! The average sales price is up +12.3% compared to August 2019 and inventory is down -40.7%. Active listings are also down -44.7%!
The detached home market in the county a bit crazy. The average sales price in August is at $963,055, which is up +13.4% from August 2019. The amount of detached houses on the market is down -53.6% in San Diego County and supply is only at 1.3 months! As of now, there aren’t signs of a slowing San Diego housing market due to extremely high demand.
So many people ask me “How’s the market?”, but as you can see there isn’t a one size fits all answer. Are you a buyer or seller? What price range are you looking to buy/sell in? Do you have time to wait for the right deal or find the right buyer? Questions like these are important to understanding how your market is.
If you are looking to purchase a home in Downtown San Diego, it important to have a competitive edge. You need a guide through this complex real estate market, especially during these times. Our team prides ourselves in the research and market knowledge we posses.
It is also even more important as a seller to chose an agent that will give you the best chances of selling your home. Through our extremely high marketing standards and innovative techniques, such as 3-D tours, let us help you through the selling process in this complicated market.
Average Vs. Median Price Per Square Foot
- Average Price Per Square Foot ($)
- 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 September 4th, 2020.