Market Conditions in 92101>Question Details

Christian Sa…,  in San Diego, CA

Where can I find more information regarding how the market is trending in regards to the 92101 zip code. I am curious to know if prices are going

Asked by Christian Salinas, San Diego, CA Wed May 30, 2012

going up or down, and how is the inventory. Is it going up or is it going down... or maybe consolidating.

Thank You

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BEST ANSWER
Christian,

Currently there are 189 active listings in 92101. This is compared to over 600 listings about 18 months ago, so the inventory is definately tight.

I've lived downtown for over 12 years (and my brokerage is located in the Marina District), and this is by far some of the lowest levels I've ever seen.

Feel free to go to http://www.GreaterGoodRealty.com as you can search each specific condo building for active listings as well as view many videos about each building.

By the way, I’m the co-founder of Greater Good Realty. In addition to providing valuable information about the San Diego real estate market, my company donates 10% of our commissions to local charities and non-profit organizations throughout San Diego.

We hope to make a difference for those in our neighborhoods!

David Stone
Greater Good Realty
Cell: 619-206-1551

CA DRE#01888818
1 vote Thank Flag Link Wed May 30, 2012
Here you go.

Scroll to the bottom of the page for the chart and information.

J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
619-929-0105
1 vote Thank Flag Link Tue Jul 16, 2013
Hi Christian -

You don't just want "general market info", you need market conditions based on what you are looking at purchasing.

Since you state you are buying for investment, I have made some assumptions on requirements (1+ bed, 1+ bath, 800 sq ft+, and under $650k) I can provide exact information on what you are looking for - feel free to email me: david@kindredre.com

Ave days on market (includes while pending): 103
Ave sold price vs asking price: -4%
Median sold price: $319,000
# of homes for sale: -80%

Obviously, this last figure is the one you should care about most!


Hope this helps.

David Rudd
Voted BEST Service 2012
david@kindredre.com
858.395.6315
ca dre#01402946
1 vote Thank Flag Link Wed Feb 20, 2013
You will find everything you need at this site for free. http://www.sandicor.com/resources/sales-statistics.html Every ZIP Code is covered, single-family, condos, & two to four units. It is right from the MLS.
1 vote Thank Flag Link Wed May 30, 2012
I work this market weekly. In the under $500K category, there are very few options with reasonable HOA fees..you can count the number of available homes on your hands. Because of this, these units are going up in value and price.

If you can handle $500-$900K/month HOA payments, and afford a home OVErR $500K, you have plenty of options.

Basically, the complexes that still have reasonable HOA fees are selling at a premium. If you don't already have an agent, I would be delighted to speak with you one on one to learn about your situation.
1 vote Thank Flag Link Wed May 30, 2012
Thank You. I appreciate your time and response.
Flag Wed May 30, 2012
Hello Christian!

The Inventory of homes in San Diego County is very low, so the supply and demand has dramatically shifted. In the coastal communities and any desirable heighborhoods, we are seeing mutiple offers in the 1st few days homes are on the market. I was at a meeting with 30 Real Estate Agents this morning, and all of the chatter was about mutilpe offers: 10,12, even 33 offers, $50K over list etc. Granted this was on well priced homes, but see what happens when a home is priced to sell?

We are seeing markets turning in Phoenix, Austin Seattle, many cities in Florida. San Diego is getting there as well, it appears. If you are holding out waiting for the right time to buy, it is here. Interest rates just hit record lows again today. Prices have been ticking up 10% or more in many areas. I wish I had a crystal ball to tell you if we have passed the bottom of the market, but we only find out, by looking in the rear view mirror, looking back and see that we have missed it. Many are saying the bottom was at the end of 2011, many say we just passed the bottom the last couple of months. If you want a market snapshot of downtown, I can send you a special report. If you are thinking about buying, the time is here. Hook up with an aggressive agent that can help you negotiate a great deal, that you enjoy and most importantly get your offer accepted...it is getting very competitive. The affordability factor has not been this great in San Diego since 1970.


Happy House Hunting~!

~Chris~
1 vote Thank Flag Link Wed May 30, 2012
Hi Christian,

If the property is under $350K and not a short sale, it will sell fast and with competition. Short sales take a lot longer, often get multiple offers, but many don't close, so they're on the market awhile, and then they either finally sell or cancel. Prices aren't really going down anymore, at least not the lower priced units. There's always room at the top to come down if a unit isn't moving though.

Warm Regards,

Cory La Scala, REALTOR
Independence Realty
619-825-6421
1 vote Thank Flag Link Wed May 30, 2012
hi Christian,

The general trend is this: If homes are priced right, they will sell quickly. There are homes were the Realtor or the seller are not realistic and you seen last forever. There is opportunity for the buyer to submit the right offer and get a bargain, but it has to be on the right listing. I don't like to generalize too much like I just did, because I feel every listing is a specialty within itself.


Hector R. Gastelum
Realty Executives Dillon
REALTOR #01382940
2240 Otay Lakes Rd. #306
Chula Vista, Ca 91913
hectorgastelum@yahoo.com
619-954-2225
125*142*10754
1 vote Thank Flag Link Wed May 30, 2012
To answer your question directly, inventory is at its lowest point in years, prices are skyrocketing. Although several buildings are in litigation, there are still many, many qualified buyers and lenders willing to lend as downtown has the highest demand of any area in San Diego.
0 votes Thank Flag Link Fri May 31, 2013
San Diego prices are showing stabilization and even an upward trend in some areas. Downtown will be slower to see this trend due to most buildings having litigation and also difficulties getting a loan. Inventory in San Diego is less then half of what a healthy market should be right now so the pickings are slim! The low level of inventory should eventually drive prices up but, like I said, things such as qualifying for a loan and litigation that seems to be everywhere downtown, will slow this trend. Bottom line: It's a great time to buy right now!
0 votes Thank Flag Link Tue Jun 19, 2012
Hi Christian,

Generally, inventory is down in San Diego. As you are aware, each zip code has its own market tendencies, and often different results based on the type of home (attached, detached, townhome, etc.).

With that said, a good agent can supply you with detailed market trends. In our experience, it is too much data to explain online and is best done in person or over the phone.

Best of luck to you,

Mark & Kari Shea
Shea Real Estate
Home Sales Specialists; New and Resale Homes
Valuation Specialists
Land Sales, Acquisitions & Consulting
Serving Greater San Diego
0 votes Thank Flag Link Thu May 31, 2012
Hi Christian,

Good afternoon, you can visit socalhomestore.com and click on market insider and then enter the zip code. Let me know if you have any more specific questions.

Have a great day!

Baruch Rosenberg
Keller Williams Realty
619-436-9500
http://www.socalhomestore.com
0 votes Thank Flag Link Wed May 30, 2012
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