Holy smokes, March of 2013 was an incredibly HOT market for Downtown San Diego Condo sales! We ended up with 94 total sales (per Multiple Listing Service). That is a significant increase in total number of sales compared to last month’s 63 total sales for February 2013.
- 81 sales were regular sales (versus 50 for February). ⇑
- 11 were short sales (versus 11 for February).
- 5 were foreclosure sales (versus 2 for February). ⇑
Other Quick Facts:
- Highest sale Sapphire Tower, 27th floor, 3 Bed for $1.8M
- Lowest sale Element, 7th floor, 1 Bed for $154,000
- 94 total sales of Downtown Condos (67 for February), average sales price was $560,000 (February was $450,000)
- 155 Active Listings as of April 1, 2013
- Average Days on Market to Sell: 45 Days
Breakdown by Neighborhood:
- East Village – 21 Total Sales, average price was $410,000
- Columbia District – 22 Total Sales, average price was $748,000
- Little Italy – 13 Total Sales, average price was $364,000
- Marina District – 17 Total Sales , average price was $864,000
- Cortez Hill – 10 Total Sales, average price was $389,000
- Gaslamp Quarter – 0 Total Sales
Real Estate inventory levels continue to shrink as demand continues to climb. If you are thinking of selling your home or condo, this is a great time. Positioning your property correctly will result in multiple offers and a very fast and clean sale. If you are thinking of purchasing a home or condo, this is a very good time to take that first step. Prices are already on the rise, interest rates will be soon to follow. We may never again see affordability like it is today in our lifetime. Thinking about buying? The time is right, don’t let the market pass you by! Thinking about selling? It makes sense, especially if you are “moving up”.
Questions? Comments? Please send them my way!