26 Days vs. 80 Days: What’s Going On?

A Tale of Two San Diego Markets

San Diego isn't one housing market. Sometimes, two ZIP codes just 15 miles apart can tell completely different stories.

Consider 92117, which includes much of Clairemont, and 91932, Imperial Beach.

The Numbers Tell the Story

In July, 92117 recorded 43 total home and condo sales, compared with just 13 in Imperial Beach. Single family homes sold for a median $1.25 million in 92117 versus $800,000 in Imperial Beach.

Despite being substantially less expensive and located on the coast, Imperial Beach is moving much slower.

Current listings in 92117 are averaging roughly 26 days on market, while the most recent data I received for 91932 showed an average of 80 days.

Why Such a Big Difference?

I think Clairemont's strength comes down to location and utility. Buyers get a central location near major employment centers, freeways, the coast, UTC, Mission Valley and Downtown, plus a substantial supply of traditional single family homes.

Imperial Beach presents a different challenge.

A huge part of the value proposition of paying to live in a beach community is actually being able to use the beach. Persistent sewage related closures have compromised that benefit, and I believe we're increasingly seeing the impact reflected in buyer demand.

The pricing data reinforces the divide. In July, single family prices were up 2.35% year over year in 92117 but down 6.19% in 91932.

Real Estate Is Hyperlocal

The takeaway isn't that one community is good and another is bad. It's that price alone doesn't determine demand.

Understanding why buyers are choosing one neighborhood over another is where opportunities are found.

Curious how your neighborhood stacks up? Reach out and I'll put together an in depth analysis of what's actually happening in your specific market.