Downtown San Diego Condo Inventory Soars

The Voice of San Diego reports:

January always sees a spike in real estate inventory levels. People who have avoided putting their homes on the market over the holidays often flock to the market at the beginning of the year.

But this year's inventory figures for downtown San Diego condos paint a picture that has not been seen in the 92101 ZIP code for a few years.


The number of condos placed on the market in downtown increased 17 percent in the first month of 2006 to a record high of 530, according to figures compiled by Lew Breeze, a Realtor in Little Italy. That's a far bigger increase than January has seen in the last two years, and analysts said it's further evidence of the market shifting into a lower gear.

We'll bet this year will see even bigger inventories.