Downtown San Diego Real Estate Market Update – March 2018
Going into March of 2018, Downtown San Diego’s real estate market is taking off with lots of new listings. This is partially due to the development of luxury condos like Savina and Pacific Gate. Real estate downtown is becoming more and more attractive with the downtown lifestyle, the multitude of restaurants, things to do, and other exciting attractions. If you are interested in making Downtown San Diego your home, or perhaps are interested in selling your Downtown San Diego condo, read on to find out what the latest real estate market update is like.
Single Family Homes in Downtown San Diego
Although Downtown San Diego is filled with mainly apartments and condos, there are still a few single-family homes that exist. According to the SDAR report for February, the median housing price for single-family homes has gone up significantly since last year. The current median housing price as of February is $990,000, up 105.8% since last year. In addition, the average number of days on the market for single-family homes is only 8 days! The current inventory of homes for sale is 2 which is down 33.3% from last year.
If you are selling your home in Downtown San Diego, now is the prime market to be selling in. With the low inventory, short amount of time on the market, and high median sales price, this makes for a competitive market. In other words, there will be multiple buyers fighting for your Downtown San Diego home for sale which can help drive prices up. Talk to The Auker Group today to find out if selling your Downtown San Diego home is the right move for you.
Townhouses and Condos in Downtown San Diego
Now, for what makes up most of Downtown San Diego’s real estate: condos and townhouses. Downtown San Diego is quickly developing new luxury condo buildings in prime locations and filled with amazing amenities. In addition, there are also lots of other brand new condo buildings being built in Little Italy and in East Village that are more affordable options.
Currently, the median sales price for condos and townhouses in Downtown San Diego is $460,000, down 8% from last year. In addition, the current inventory of homes for sale is up 36.6% from last year at 261 total. The days on the market are the same as last year coming in at an average of 34 days.
The housing market for condos and townhouses in Downtown is currently great for both buyers and sellers. If you are looking to buy a condo downtown, the market is good for you because the median price is down since last year and inventory is up. This means it’s not going to be as competitive as other areas in San Diego. The higher amount of inventory will give you more options to explore during your Downtown San Diego condo search. It’s also still an ideal market for sellers because although the median sales price is down, it’s still a hot market. The average number of days your home will be on the market will be 34 days, which is much shorter than other areas of San Diego.
Finding the Right Downtown San Diego Condo for You
If this market update has given you the nudge you need to start your house hunt for your next condo, here is where you should start your search. Start making a list of everything you want in your condo. Maybe you’re living at Renaissance in the Marina District or The Mark in East Village and it’s beginning to feel a bit old and outdated, you should consider new developments like Savina or Pacific Gate. If its amenities you seek in your new home, these new developments offer modern styled apartments, concierge service, beautiful and inviting pools, fitness centers, resident lounges, meeting rooms, chef concierge and more. In addition, these locations are near delicious restaurants and shopping areas. Finding the right condo for you is important to us at The Auker Group. Whatever it is you’re looking for in your new home, we will help find the right one for you.
Selling Your San Diego Condo or House
This market update might also be the nudge you need to sell your current Downtown San Diego condo so you can move into a new condo or to move into a different neighborhood in San Diego. San Diego offers lots of neighborhoods with high ranked schools, beautiful homes, and views. Talk to The Auker Group about potential neighborhoods that might be right for you to move to. As for selling your condo, we can help you through every step of the selling process and help you receive top dollar for your Downtown San Diego condo.
Finding the Right Downtown San Diego Neighborhood for You
If you’re interested in buying a condo in Downtown San Diego, it’s just as important to find the right neighborhood for you as it is to find the right condo for you. Downtown offers a variety of neighborhoods including the most popular for condos: Little Italy, East Village, Columbia, and the Marina District. Little Italy is the ideal spot to find your new home if you enjoy being within walking distance of the waterfront, and tons of restaurants and shops. East Village is an up and coming section of Downtown with lots of new high rises on their way to being built. The Marina district is ideal for those who want to be near everything in Downtown like entertainment, restaurants, and shopping. Talk to The Auker Group to find out which neighborhood is right for you.
Contact The Auker Group Today
If you are interested in forming a lifelong relationship with someone who wants to help you find your dream home, or sell your current one, it’s time to pick up the phone and contact The Auker Group. We can help you with all of your Downtown San Diego real estate needs. Get to know us more here.
*Information provided by SDAR