Downtown San Diego Market Update - December 28th
Monday, December 29, 2008 at 2:15PM For Better or For Worse?
Statistics are great if they mean something. Just looking at these stats from Altos Research don't mean anything without context. If you check our August 31, 2008 Market update you can see a better comparison. Average square footage is within the margin of error. What is really interesting is how the Market Action Index has risen from the August index of 16 up to December index of 19. That shows there is more activity in the market. Is it related to price? If you look at the median August 2008 price you will see there has been a $30,000 drop in median pricing. For buyers that means there are some really good bargains out there.
Will downtown San Diego prices continue to drop? That will depend on where and when buyers sense the bottom. We are actually quite busy right now with downtown San Diego buyers who are ready, willing and able to purchase. Some are purchasing with all cash, while others are taking advantage of these unbelieveably low interest rates. 2009 is going to be a really interesting year!
By Sharyn & Victoria Crown, Downtown San Diego real estate agents
This is part of a series of articles entitled, New Condos, Downtown San Diego Style
