[quote=4plexowner]
let’s see, 159 sales in 6 months is almost 27 per month

we have 400 + 450 + 1000 units which means there are almost 6 years worth of condos downtown at the current rate of sales

ouch![/quote]

I don’t think that’s correct.

First of all, 400 units listed for sale and 450 units “in some stage of foreclosure” are partially overlapping sets.

Second of all,

http://www.signonsandiego.com/sdhomes/area_homesales/0609cc.html

UT shows 129 new & used units sold in 92101 during last month alone, 81 units sold in May, 83 units sold in April.

So we really have ~6 months of active inventory + ~12 months of shadow inventory downtown. That’s still a lot, but on par with high end zips such as Del Mar and Coronado.

At the same time, some nearby condo zips are actually experiencing shortages (Mission Valley is at 2.5 months of active inventory, University City is at 2.8 months), extra supply downtown can be absorbed by overflow from those two.