Welcome to San Diego Blog | January 12, 2012
Finding Condo Deals in 2012
Downtown San Diego
What buildings currently offer the best opportunity in finding a “deal” for a Downtown San Diego Condo in 2012?
The answer is a little ambiguous as the term “deal” is subjective.
“Deals” are relative to current market value of a given property in any designated community.
The obvious answer is to consider the old theory of supply and demand.
As the shrinking inventory trend in downtown San Diego continues we are finding fewer and fewer choices in 2012.
Currently, there are only 190 Properties For Sale in Downtown San Diego. To put this trend into perspective for you, there were 399 properties for sale 1 year ago. That’s 47% less available choices than last year alone!
Bottom Line: Condo choices in Downtown San Diego are getting sparse!
So, back to the initial question: What downtown condo buildings offer the best opportunity to find a deal?
Considering the aforementioned supply & demand theory, we look to the buildings with the most properties for sale.
Here we go…
Aria on Cortez Hill
Aria is arguably the most contemporary and luxurious tower in the Cortez Hill Neighborhood. Condos at Aria currently range in price from $380,000- $560,000.
Aria currently has a whopping 5 condos for sale, and sadly, that is enough to make my list. With less than 4% of the entire building for sale, by no means is there an abundance of available inventory here, but there are a few similar properties for sale at Aria that could create potential buyer leverage; therefore, Aria makes the list of potential “deals” in Downtown San Diego.
Click the following link to see all Condos for Sale at Aria.
Bayside By Bosa
Bayside by Bosa is the newest and most elegant of all luxury towers in the Columbia District. Properties at Bayside currently range from $495,000- $3,478,000. With a couple of high end penthouse units still being offered by the developer, Bayside deals tend to be in the upper segment of the market (1 Million +).
A significant factor in consideration of long term value at Bayside is the implementation of the North Embarcadero Visionary Plan (NEVP), which will greatly enhance the immediate area surrounding Bayside. The project was recently approved and has officially broken ground as of this week!
Breeza- San Diego
Breeza is a new development located at 1431 Pacific Highway, literally on the edge of Little Italy & the Columbia District. Breeza resides next to Bayside, so it is in a prime location; however, it offers more of a moderately finished condominium at somewhat affordable prices.
There are currently 7 Condos For Sale at Breeza that range from $325,000 to $849,000. The majority of the homes for sale are new being offered by the developer. With close out pricing and motivation, Breeza certainly deserves to make this list as one of the best potential opportunities to score a good deal on a new condo!
Cityfront Terrace San Diego
Located at 500 Harbor Drive in the Marina District, Cityfront Terrace is one of the most recognizable buildings with its brick clad design. This luxurious high rise has an enormous footprint and boasts 320 total residential condos.
There are currently 10 Condos For Sale at Cityfront Terrace with prices that range from $395,000- $750,000. In my opinion, there are some great deals available in this community.
Electra is Downtown San Diego’s tallest residential tower. It is one of the newest and most impressive buildings by Bosa Development, with the incorporation of the old historic SDG&E power plant element. From the moment you walk into this community, there is an instant sense of luxury.
Surprisingly, some of the better “deals” are currently available at Electra.
Apparently, the theory stands correct: Abundance leads to opportunity!
There are currently 11 Condos For Sale at Electra with prices that range from $435,000 to $1,850,000. One property that is a particular stand out is located on the 32nd Floor. This property sold for $1,143,000 back in 2008, and is now listed for $769,000! For detailed information about this property, click on the link below:
The Harbor Club towers are the first luxury residential high rise buildings in the Marina District. Built in 1992, these elegant buildings have a distinctive timeless appeal, and still stand out as some of the most dynamic buildings in the downtown skyline.
There has been quite a few recent transactions in these buildings, and some amazing deals in recent months as well…
Currently, there are 11 Properties For Sale at The Harbor Club with prices that range from $379,000- $5,500,000.
Pinnacle Museum Tower
The Pinnacle: Arguably the most elite luxury tower in the Marina District. Located at 550 front Street, this elegant 36 floor high rise tower has a level of quality that is unsurpassed.
There are currently 11 Properties for Sale at Pinnacle with prices that range from $349,900-$2,395,000. Whether or not any of these properties are a considerable “deal” is to be determined…
The Legend by Bosa
The Legend By Bosa is located at 325 7th Ave in the East Village Neighborhood. The Legend actually resides within the confines of Petco Park, and has some of the more exciting amenities in all of downtown with the 7th level viewing terrace where residents can watch all of the Padres home games right from the common area!
There have been quite a few new listings at The Legend, and I believe that there are some particular opportunities to be had in this community. There are currently 9 Condos For Sale at The Legend with prices that range from $399,000- $699,000.
In conclusion, this is just one angle in finding that needle in the haystack. What we are finding in 2012: The deals sell quickly with a depleted inventory of homes.
Timing is everything in this market. You snooze, you lose.
Do you want to find out more about Condo Deals in Downtown San Diego?
Give us a call today: 858 531-8785