Selection of condos available for sale in Downtown San Diego will continue to be tight. As of January 2023 only 0.8% of the total condo market is up for sale (roughly 87 for sale out of 10,850 total condos). Prices have appreciated about 9.4% in the last 12 months. However, due to the recent increase in mortgage rates to 6.5% prices are no longer appreciating and dropped 6% in the 3rd quarter and 2% on the 4th quarter. However, we may have it the bottom. Sales volume is down about 50% lately. The supply/demand equation still favors the Sellers as there are more Buyers than Sellers.
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.
The Mark Residence 2002 is a sleek and modern 1BR/1BA located on the 20th floor of a luxury high-rise in East Village. This residence has been highly remodeled with matt...
Effortless East Village living! This spacious corner Metrome residence puts you in the heart of Downtown’s most vibrant neighborhood while still checking all the boxes. Y...
Looking for a nice Studio in San Diego’s popular Gaslamp Quarter? Discover this contemporary residence that offers easy-care living in a highly desirable location. Step i...
Welcome to the Electra! This 2 bedroom 2 bath South East facing residence with views of Mountains, City Skyline and Coronado Bridge has been recently refreshed, including...
Welcome to downtown living at its finest! This one-bedroom, one-bathroom condo located in East Village in downtown San Diego offers 892 sq ft of living space in a vibrant...
Welcome home to this fully remodeled one-bedroom Union Square condo in the heart of the Makers Quarter district in Downtown San Diego. This fully redone, rarely available...
Open, bright and most definitely upscale, this contemporary condo at M2i in Downtown San Diego’s desirable East Village is completely move-in ready. Enjoy a loft-style vi...
Move-in ready FULLY FURNISHED fifth floor end unit nestled within the heart of Little Italy!! This renovated retreat comes with TWO rare private storage spaces and one se...
The best value in Little Italy! The 2 bed 2 bath split floorplan offers beautiful northwest exposure yielding an abundance of natural light, cityscape views and notable p...
Beautiful condo in Downtown San Diego with spectacular views! *Large windows throughout bringing in great natural light! *Great kitchen space features rich-toned cabinetr...
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS®,
Freshest Data Available
Active Listings Only
Customizable Search Options
New Listing Alerts
Instant Home Value Assessments