Biggest Discounts February Update

Let’s have an update on where buyers are currently getting the biggest discount off the asking price. Our goal in sharing this data is to help potential buyers to know which neighborhoods are softer in terms of sale price discounts off list price, to better equip you when making an offer, and help you know where to look for potential bargains.

In the charts below, we have taken all sales data from the last two months in Redfin’s San Diego service area and sorted it by community. (Usually we sort by zip code, but this month I was unable to obtain zip code data.) We calculated the overall difference between the sale price and the list price. Note that this reflects the final list price, after all price drops in the listing. Any zips with fewer than ten sales are excluded from the top and bottom ten rankings, but interested readers may download the full data summary in Excel format (xls).

Here are the top ten communities with the largest overall discount:

sd-sale-to-list-most_2009-02.png

The overall discount for the San Diego area went back up to 4.3%, just above where it was in December, indicating either an increase in the willingness of sellers to bargain with buyers, or a decrease in the skill of sellers to set appropriate prices to begin with.

Here are the ten communities with the smallest discounts:

sd-sale-to-list-least_2009-02.png

Of the 2,098 sales we tracked in the 3-month period, just 40 homes sold for more than 20% off the asking price, while 647 homes sold for more than asking.

As a whole, the trend in San Diego is currently moving back toward larger discounts for most neighborhoods.