Its no surprise to those who live in downtown San Diego that this is one of the best places in the world to live. I wont go into all those reasons here but now that people can work remotely and more and more baby boomers are retiring, the demand for a condo in downtown San Diego is very strong.
This is evidence by the shrinking number of available condos, 138 in 92101 as of Sept 14, 2021. Compare that to about 400 condos to choose from just 1-2 years ago. Currently there are no new condo projects under construction in downtown San Diego and for the condos that will get built one day, there are no pre-construction sales going on at this time. The next new condo building will not be ready for move in till the end of 2024 at the earliest.
If you thought just the natural migration of remote workers and retirees was all that is driving up prices of condos in downtown, your in for a surprise. There are two HUGE construction projects going on that will add thousands of new jobs San Diego. Those are the Campus at Horton and the Research and Development District (RADD). See my earlier blog post for more about those.
Here is my latest price chart of the average sold prices for condos in Downtown San Diego.