Welcome to San Diego Blog | August 13, 2012

Downtown Market Absorption Rates…

…for condos and lofts in 92101

The big news for condos in downtown San Diego is the rate at which inventory priced at $1M and above is moving.  This is the first time in 5 years that we’ve seen the luxury condo segment really accelerate.  We are seeing sales reach 5 year highs at price per sq/ft and we are seeing inventory dry up.   If you check out the chart below, you’ll see that we went from a 16 month supply of condos priced $1m and above to only a 10 month supply. This is big news!

 The New Deal for Condos Downtown San Diego

For all price categories illustrated above that are below $1m, the story is very simple.  Inventory is below a 6 month supply and demand is high so we are starting to see the shift to a seller’s market.  Quite simply stated, the lower the price, the lower the inventory and the more fierce the competition.

I hope you have a good agent!  Be prepared to move quick and don’t mess aound with your offers…my suggestion is to be first and be deadly!

Written by: chad

Categories: Absorption Rates, Downtown San Diego, East Village Real Estate, Gaslamp Real Estate, Little Italy Real Estate, Marina District Real Estate, Real Estate Investment, San Diego Real Estate

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