The average sales price for a Downtown San Diego condo reached its highest price in April for the 2010 year.  We have been seeing a large amount of home sales in the $200,000-$550,000 segment, but are finaly starting to see more of the $550,000 to $1m priced condos sell now.  We believe this is partly due to the season as we move into the period of the year where many buyers come to town from places like Phoenix, Tuscon, Las Vegas, NY and other warm climates.

For the month of April, 2010, we saw 103 total sales for Downtown San Diego Condos and lofts.  As you can see by the chart below, the majority of these sales were resale condos making up 61% of the total sales.  It is good to see that the bulk of that 61% is actually made up of traditional sales, closely followed by bank owned foreclosure condos. 

Short Sales made up the smallest segment, but we actually expect to see the number of short sales to rise and the number of bank owned properties to fall with the latest legislation promoting short sales.  New developers have made solid progress making sales and represent 39% of the total sales in Downtown San Diego.  The leading developments are Bayside San Diego Condos, The Mark San Diego Condos and Sapphire Tower Condos.  Vantage Pointe has still not had any closed sales so none of hte 40 new condo sales are represented by Vantage Pointe. 

For more information about Downtown San Diego Condos, Give us a Call at 619-309-8011 or reply to this message.