The median list price for San Diego, CA 92101 (Downtown San Diego) is $696,950 with the market action index hovering around 37 (This answers “How’s the Market?” by comparing rate of sales versus inventory). This is an increase over last month’s market action index of 34 . Inventory has held steady at or around 216.
Prices in Downtown San Diego seem to have settled around a plateau. The price per square foot and median list price have both been reasonably stagnant. The Median Sales Price was down 8.6 percent to $512,000 for attached homes.
The Mortgage Bankers Association’s January research estimates approximately 2.7 million homeowners with mortgages are currently in
forbearance plans. Some of these homes may eventually come to market, but given the strong appreciation in most market segments in recent years, these eventual home sales are likely to be mostly traditional sellers. However, a modest increase in short sales and foreclosures at some point this year would not be surprising.
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