Welcome to San Diego Blog | January 8, 2011
Downtown San Diego Top 5 of Real Estate Markets in Nation
According to an independent study by Veros Real Estate Solutions, the San Diego area regained its lead position for the strongest home price appreciation over the next 12 months in the U.S. real estate market forecast. See the full article and research here.
Why Does the Research Show Expected Gains of 3.5%?
It’s really quite simple…
- Supply– there are no new condo projects under way in downtown San Diego and the existings new sales condos are almost sold out. The Mark has 12 condos left to date, Bayside is down to the last 20 condos, Atria has 3 remaining condos, Aria is almost sold out.
- Demand– There are approximately 95 condos sold per month in Downtown San Diego. With only about 500 properties for sale downtown, there is less than a 6 months supply of homes. Once the new buildings are gone, we are going to see a lack of inventory and expect a steady demand.
- Weather– Let’s face it, San Diego and southern California have some of the best weather conditions in the nation. Escape the heat of the desert locations in the summer and escape the extreme conditions of the winter in San Diego’s so called winter months. It was just 80 degrees in December!!! It’s hard to watch the San Diego Chargers play home games when it’s 85 degrees and see the MinnesotaVickings MetroDome Stadium collapse from snow overload all in the same week. Where else would you want to retire or have a vacation home?
- Safety & Style – Downtown San Diego is a relatively new city and the bulk of the residential towers were built from 2002-2009. There are a ton of great restaurants, bars, entertainment, plus opportunities for sailing, golfing, surfing, cycling and fishing. San Diego is a very comfortable and casual city…jeans and sandals can get you in just about anywhere. Just about the only thing you can’t do in San Diego is ski!
- Location – Less than 5 min from the airport, available by train, close to the boarder of Mexico if you care to explore down south.
You can’t go wrong in San Diego with the friendly locals, great weather and good times for all who visit.