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, Iâ€™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!
Greater Good Realty
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: firstname.lastname@example.org
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.
Voted BEST Service 2012
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.
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~!
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.
Cory La Scala, REALTOR
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
2240 Otay Lakes Rd. #306
Chula Vista, Ca 91913
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
Land Sales, Acquisitions & Consulting
Serving Greater San Diego
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!
Keller Williams Realty