Welcome to San Diego Blog | May 5, 2010
Downtown San Diego Condos 1st Quarter Sales Statistics 2010
The Downtown San Diego Condo Market is represented below by the graph which shows the first quarter sales statistics for all condos in downtown San Diego. This chart clearly illustratest that the single largest segment of the San Diego condo market is represented by the $300,000-$500,000 price range. This is largely because this price range represents the majority of the economical 2 bedroom, 2 bath condos. These condos swing well as investment properties, vacation homes, and can even work out as primary homes for young professionals who don’t have families yet.
Condo Sales Downtown San Diego
Great condo buildings downtown San Diego that have contributed to this category include La Vita condos and Doma condos in Little Italy, Treo in the Columbia District, Crown Bay and Park Row Condos in the Marina District. Metrome condos and M2i condos in East Village and Gaslamp City Square and Trellis in the Gaslamp have also substantially contributed to this category. None of these buildings are considered “luxury”, but they all offer good value for different reasons.
The second largest market segment is the $300,000 and below downtown San Diego condo category. This category includes many one bedroom condos, but also represents the most economical 2 bedroom condos downtown San Diego. Many of the buyers in this category are first time home buyers, investors and empty nesters looking to secure a great deal on the vacation home they have always dreamed about.
The Struggling Market Segment for Condos Downtown San Diego
The San Diego Downtown condo segment that has been struggling the most is the luxury condo category over $1m. Even though these luxury San Diego condos are only representing 3% of the overall sales in the marketplace, this is an improvement over what we were seeing in the last 2 quarters of 2009. There were a total of 8 condo sales that were over $1m for the fist quarter of 2010, but there are already quite a few more since the end of March. The buildings that represented these sales include Pinnacle San Diego Condos, Bayside Condos, The Grande, Electra San Diego Condos and Sapphire Tower.