Downtown San Diego condos: July 2010 Sales Statistics
Thursday, August 19, 2010 at 11:52AM 
Downtown San Diego Listings, Sales and Closings
San Diego Downtown condo sales statistics have been on an interesting journey over the last few years. Look at the comparisons of Downtown San Diego inventory, pending closings, and csold losings. 10.8% of the inventory sold and closed in July 2010. That is a really scary statistic for sellers. You either price your condo correctly or you don't sell. It's pretty simple and very obvious when you see the numbers on paper.
You will see the disconnect between buyers and sellers with the following chart.
Downtown San Diego Square Footage Listings and Sales
This chart also reinforces the disconnect buyers and sellers of Downtown San Diego condos are wrestling with as sellers price and buyers buy. This is a really amazing set of statistics. Just look at how how sellers are pricing per square foot and how low buyers are purchasing per square foot. The numbers are somewhat disconcerting to say the least.
In our opinion, only sellers who have a good reason to be selling should sell in this marketplace. Short sales and foreclosures are supressing the prices. The question becomes how long is this going to go on? After 34 years+ representing buyers and sellers in San Diego, this is one of the few times where I cannot see the end yet. Economists keep babbling that we are in a recovery, but when you look at these Trendgraphix statistics, it is hard to believe the economists vs the reality of the marketplace.
On the flip side of the coin, purchasing right now is the best opportunity I have seen in my career. There are Downtown San Diego units that are bargains, and for the motivated and ready buyer, this may be the time. Financing is only going to get harder, so perhaps it is time to take the plunge. Contact us with any questions or help we may be able to provide.
This is a series of articles by Sharyn and Victoria Crown, Downtown San Diego real estate agents specialzing in San Diego real estate. Visit us on our San Diego Crowns Real Estate Facebook page. Text SDCROWN to 87778 to search properties on your mobile phone
