Downtown San Diego Condo Information, Reviews and News

Selection of condos available for sale in Downtown San Diego is getting super low, in fact its the lowest its been in 15 years.  As of May 2023 in downtown San Diego there are only 95 condos for sale.  This is 0.8% of the total condo market of 10,850.  Prices have come down 2.6% in the last 12 months and appear to have bottomed out as prices have started to rise once again so far in Q2.   Sales volume is down about 50% from last years monthly rate of sales.

Spring time is our peak season for the downtown condo market as buyer from the desert communities of Palm Springs and Scottsdale AZ come shopping for second homes to escape the heat.  We should see more sales volume in the next few months and I think prices will rise a little bit from this high demand heading into summer. 

I'm expecting very little turnover in 2023.  One reason is the spike in mortgage rates discouraging condo owners with a 3% mortgage from trading up knowing they will give up their low rate for a much higher interest rate.  It will take some time for the higher rates to become the new normal and have buyers that are waiting for lower rates to jump back on the market. 

If you want a brand new condo, you have to wait till 2026 or later as there are no new condo buildings under construction at the moment.  A lot of owners have been doing total remodels on their existing condos, so its possible to buy a resale with a newer updated interior.  All but two condo buildings in downtown are over 10 years old now, most are 15-20 years old and just a select few over 20 years old. 

Click here to see my price history chart.

There are two huge construction projects going on in Downtown San Diego that will add several thousand jobs and buyers for near by residential properties.  To read about them see the articles on my blog. 

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