June 2020 Pacific Beach, San Diego 2-4 unit real estate market update
How is our Pacific beach 2-4 unit duplex, triplex, and fourplex market? When the pandemic started a lot of people thought the market was going to crash which is not the case.
The numbers I’m going to share with you exclude Mission Beach which is kind of its own market. So it’s Pacific Beach only.
These are not huge samples, in some cases, I’m using relatively small samples, and when those possibly skew things I will tell you.
This is the activity right now: there are eleven, 2-4 unit properties for sale in Pacific Beach, three in escrow, and 19 that have sold in the past six months. Let’s take a look at the number that has sold per month. For the past year we were selling about 2.9 per month, since the pandemic (the last two and a half months), we’ve been at about 1.7 per month.
In round numbers, you can say we were selling about three a month and now we’re selling about two a month. Technically it’s a drop of 41% but it’s not that bad when you think about it, considering the pandemic. You would think everything would stop and it hasn’t. Watch the short video for more information.
If you’re wondering about the value of your Pacific Beach property, I’m happy to talk over the phone or stop by and give you an accurate estimate. Call or text me at 858-457-KENT (5368) or email gary@garykent.com.
