Point Loma San Diego real estate statistics often are combined with Ocean Beach. This article will focus on Point Loma real estate market details specifically. If you are looking for Ocean Beach-specific market information, please visit this sister article on Ocean Beach San Diego real estate. Point Loma real estate is as varied as the sub-neighborhoods encompassed by it. From captivating Spanish style homes in Loma Portal, to the exclusive estates found in La Playa, real estate in Point Loma, San Diego is diverse. Whether you are considering buying or selling a home in Point Loma, read on for the key metrics you need for clear insight into Point Loma San Diego real estate market conditions. All the stats you will see here are updated daily to provide you with the most relevant and timely market information available, all from a Point Loma real estate agent who lives in and specializes in the area.
Point Loma San Diego Real Estate Home Prices
As you evaluate Point Loma San Diego real estate, one key metric is the typical value of homes. For buyers, information on average and median home sales prices can provide a rough gauge on the affordability of Point Loma San Diego real estate vs San Diego home prices in other neighborhoods. For sellers, the average price per square foot can provide a rough range on what a seller might expect to sell for.
Ideally, sellers will want a detailed comparative market analysis by an experienced Point Loma real estate agent. I have lived in Point Loma for over 15 years and regularly help clients buy and sell in the area. Please reach out to me if I might be of service. Any valid market analysis of your home should look at homes most comparable to yours, vs the more general statistics seen here. The average and median home price along with price per square foot information is broken down into two categories: 1) single family detached homes, and, 2) attached homes including townhomes and condos.
Point Loma – Average Home Price
Point Loma – Median Home Price
Point Loma – Average Price Per Square Foot
Point Loma San Diego Real Estate – Home Supply
Many Point Loma San Diego real estate investments have faired well over the long term. Longtime homeowners in Point Loma have typically enjoyed substantial appreciation in home values over the decades. Despite the favorable track record historically, market conditions have, of course, still varied. One key component of determining the type of market we are currently seeing in Point Loma San Diego real estate is the level of supply. Taking a look at both the number of active listings along with the inventory (measured in months) sheds light on what type of market Point Loma is experiencing.
The months of inventory charted here is also known as the absorption rate. Our data provider defines this as: “Active Listings at the end of a given month, divided by the average monthly closed Sales for the last 12 months.” In essence, if there were suddenly no more new listings, the inventory level would describe how many months it would take for existing demand to purchase the remaining listings.
Although the number varies and is somewhat arbitrary, some economists will use a six month threshold for evaluating supply. Anything shorter than six months of inventory is generally viewed as a seller’s market. Anything greater than six months is generally seen as a buyer’s market. For some historic context, the last 15 years has had significant variation in inventory levels. We have seen months of inventory spike to over ten months in 2007-2011 during the great recession, and dip to unseen lows of close to one month in the early part of 2021. With the magic six month threshold equating to a “healthy” mix of buyers and sellers, Point Loma and San Diego in general have spent the majority of recent years firmly in seller’s market territory.
Point Loma – Number of Active Listing
Point Loma – Inventory
Point Loma San Diego Real Estate – Market Time and Pending Sales
With tight inventory generally prevailing, it is not surprising that the time on market tends to dip when inventory is low. When you couple low inventory with the high demand spurred, in part, by historically low interest rates, some remarkably short market times can result. In times of greater inventory and/or lighter demand, market times tend to stretch out more. It is also common that the more expensive the home, the longer the market time. There are simply far fewer buyers of multi-million dollar luxury homes vs buyers of homes closer to the median home price in San Diego. The Active Market time you see below is defined as the median number of days between when a property is listed in Point Loma and when an offer is accepted in a given month.
Point Loma – Median Active Market Time
Many real estate stats focus on closed sales. Closed sales are vital from many perspectives, especially in terms of determining market prices. However, closed sales are a glimpse into the past rather than the future. Pending sales, as shown here, are a count of the properties on which contracts have been accepted in a given month. These pending sales can sometimes provide insight into where a market is headed.
Point Loma San Diego Real Estate – Pending Sales
This article on Point Loma is part of a series focusing on statistics and data from specific San Diego neighborhoods. If you would like to review more general market information, please visit my article on the broader San Diego real estate market. I am happy to provide more insights into your specific San Diego neighborhood’s real estate market upon request.
If you or someone you know might be buying or selling real estate in San Diego, regardless of location or price point, please let me know. I can also assist in connecting buyers and sellers outside San Diego with outstanding Sotheby’s International Realty agents via our 1000+ offices in over 75 countries. For a sense of the level of service I provide, please take a moment to read some of my recent client reviews. Please don’t hesitate to call, text, chat or email me with any real estate questions or to schedule a no-obligation consultation.
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