Luxury Market Report for March 2020

SA N D I EG O CALIFORNIA –March 2020–

www.LuxuryHomeMarketing.com

SAN DIEGO

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | FEBRUARY 2020 Inventory

Sales

Luxury Benchmark Price 1: $1,200,000 $10,000,000+ $9,000,000 - $9,999,999 $8,000,000 - $8,999,999 $7,000,000 - $7,999,999

$6,000,000 - $6,999,999 $5,000,000 - $5,999,999

48

1 10

1

12

0

$3,000,000 - $3,499,999 $2,500,000 - $2,999,999 $2,000,000 - $2,499,999

Total Sales: 206 Seller's Market

18

0

Total Sales Ratio2: 23%

24

2

37

2

$4,000,000 - $4,999,999 $3,500,000 - $3,999,999

Total Inventory: 909

64

7 60

5

69

9

94

13

106

22

$1,500,000 - $1,999,999

$1,400,000 - $1,499,999

38

21

$1,300,000 - $1,399,999 $1,200,000 - $1,299,999

1

213

61

34 28

47

69

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,500,000

4

3

97

239

41%

3,000 - 4,499

$1,604,205

5

5

68

286

24%

4,500 - 5,999

$2,100,000

5

6

23

171

13%

6,000 - 7,499

$2,500,000

6

7

9

93

10%

7,500 - 8,999

$3,485,000

5

7

3

54

6%

9,000+

$3,300,000

7

9

6

65

9%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

SAN DIEGO

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$1,583,750

$1,600,000

1,091

1,198

168 Feb-19

$1,600,000

Mar-19

$1,562,500

1,568

1,447

1,328

217

$1,675,000

267 Apr-19

308 May-19

264 Jun-19

Inventory

$1,632,000

$1,625,000

1,540

1,478

1,286

265

263

Jul-19

$1,595,000

Solds

$1,640,000

1,241

Aug-19

Sep-19

1,116 275

243

$1,610,000

$1,608,000

Oct-19

237

Nov-19

909

858

820 248

$1,650,600 $1,559,500

Dec-19

230

206

Jan-20

Feb-20

MEDIAN DATA INVENTORY January

February

858

909 VARIANCE: 6 %

SALE PRICE PER SQFT. January

February

498

$

564 VARIANCE: 13 % $

SOLDS January

February

230

206 VARIANCE: -10 % SALE TO LIST PRICE RATIO January

SALES PRICE

February

97.39% 96.53% VARIANCE: -1 %

January

1.56m

$

February

1.65m VARIANCE: 6 % $

DAYS ON MARKET January

February

53

42 VARIANCE: -21 %

SAN DIEGO MARKET SUMMARY | FEBRUARY 2020 • The San Diego single-family luxury market is a Seller's Market with a 23% Sales Ratio.

• Homes sold for a median of 96.53% of list price in February 2020.

• The most active price band is $1,300,000-$1,399,999, where the sales ratio is 72%.

• The median luxury sales price for single-family homes has increased to $1,650,600.

• The median days on market for February 2020 was 42 days, down from 53 in January 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

SAN DIEGO

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | FEBRUARY 2020 Inventory

Sales

Luxury Benchmark Price 1: $685,000 $6,000,000+ $5,000,000 - $5,999,999

$2,000,000 - $2,999,999 $1,750,000 - $1,999,999

6

0

$4,000,000 - $4,999,999 $3,000,000 - $3,999,999

7

0

11

1

47

5

32

6

65

5

75

13 23

11

27

7

$850,000 - $899,999

30

13

$800,000 - $849,999

38

21

41

12

$685,000 - $749,999

1

Total Sales Ratio2: 24%

40

5

$950,000 - $999,999

$750,000 - $799,999

Seller's Market

18

$1,000,000 - $1,249,999

$900,000 - $949,999

Total Sales: 125

0

$1,500,000 - $1,749,999 $1,250,000 - $1,499,999

Total Inventory: 525

65

26

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 999

$1,735,000

1

2

1

30

3%

1,000 - 1,499

$800,000

2

3

40

172

23%

1,500 - 1,999

$850,000

3

3

56

166

34%

2,000 - 2,499

$966,000

3

3

19

80

24%

2,500 - 2,999

$1,342,500

3

3

8

47

17%

3,000+

$4,225,000

3

3

1

30

3%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

SAN DIEGO

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$897,445

$884,500

528

522

74 Feb-19

$829,000

$855,000

563

589

124

120

Mar-19

Apr-19

177

May-19

Inventory

$861,000

$870,000

666

688

130 Jun-19

$959,900

681

157

120

Jul-19

Solds

$850,000

$871,250

$905,530

607

598

574

136

117

Aug-19

Sep-19

Oct-19

$877,000

$860,000

444

453 136

118 Nov-19

Dec-19

$860,000

525

125

99 Jan-20

Feb-20

MEDIAN DATA INVENTORY January

February

453

SOLDS January

February

525 VARIANCE: 16 %

125 VARIANCE: 26 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

January

February

579

$

542 VARIANCE: -6 % $

99

January

February

97.73% 97.76% VARIANCE: 0 %

SALES PRICE January

860k

$

February

860k VARIANCE: 0 % $

DAYS ON MARKET January

February

53

38 VARIANCE: -28 %

SAN DIEGO MARKET SUMMARY | FEBRUARY 2020 • The San Diego attached luxury market is a Seller's Market with a 24% Sales Ratio.

• Homes sold for a median of 97.76% of list price in February 2020.

• The most active price band is $800,000-$849,999, where the sales ratio is 55%.

• The median luxury sales price for attached homes has remained at $860,000.

• The median days on market for February 2020 was 38 days, down from 53 in January 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3