Thursday, May 2, 2013

Downtown & Oliver Real Estate Market Update

Downtown & Oliver condo prices, inventory, and number of sales are up in April of 2013.

57 condos have sold on the MLS® in Oliver and Downtown in April of 2013, 1 more than last month and 1 more than in April of 2012. The selling price ranged from $115,000, 958 sq.ft. two bedroom condo in the Torrey Pines, to $1,075,000, two level, 4,441 sq.ft condo in the Arcadia.

The average selling price was up by 1.6% from last month and 11% up from April of 2012. The price per square foot was up by $16 to $319. The inventory has increased from 234 to 267 condos available. The average selling price was $311,818 and average list price $325,557 and $328 per sq ft. Current days-on-market are up to 67 days while sold-to-list price ratio has not changed at 96%.

The current absorption rate for Downtown and Oliver condos as of today stands at 4.7 months.

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