Just sold this amazing half floor condo in the Bayside condo building in Downtown San Diego. This is one of the largest condo floor plans in downtown with over 3,100 square feet all on one level and with argualbly the best views in San Diego including views of the Bay, Point Loma, La Jolla and the downtown Skyline.
Bayside is one of the Top 10 San Diego Condos
Walk thru video >$4,000,000.00 Bayside Condo Sub-Penthouse in Downtown San Diego!
Are there any new brand new condo buildings in downtown San Diego (under construction)?
According to the City of San Diego website, the proposed Bosa residential tower, 35 floor high, is going to be a rental building. I have heard for years he will not build there till he can get a price of $1,500 - $2,000/sf on average. The current market will not support such pricing and it seems he will therefore build rental apartments there instead of waiting for another boom in real estate prices.
Here are a couple of pictures I have collected over the years for this proposed and unnamed tower at the corner of First and Island Avenues in downtown San Diego, 92101 in the heart of the Marina neighborhood, between the twin tower Harbor Club condos and the twin tower Horizons condos.
This was surely going to be one of The Top 10 San Diego condo buildings in downtown, but seems that wont be happening.
Prices have softened all year so far in 2025 (through October). The number of condo sales remains very low at about 45 sales per month. For comparison, a few years back we were selling close to 100 units per month in downtown. Inventory remains limited with only 260 condos on the market. There is one new high rise condo under construction, named Andia, its 399 units located in the East Village neighborhood. Here is a price chart of prices through Sept 2025.
The Downtown San Diego real estate market continued its gradual correction in the second quarter of 2025, with home prices declining 5.8%. While this may sound steep, it’s important to keep the bigger picture in perspective: year-to-date, prices are down just 3%, a modest dip considering the broader economic context and the exceptional run-up in values over the past several years. Click here to see a 20 year price history chart.
The primary factor behind the softening market remains high mortgage interest rates, which have kept many buyers on the sidelines. Demand has cooled, and sellers are adjusting expectations accordingly. Properties are sitting longer, and price reductions have become more common—especially in the higher price brackets and urban condo market.
As it stands, we’re projecting another 3% decline in Q3, with the market expected to stabilize in Q4, barring any major economic surprises.
The key to a sustained rebound in home values lies in one factor: mortgage rates. Until rates fall below 6%—a threshold many consider psychologically and financially significant—buyer enthusiasm will likely remain muted. The earliest realistic window for this drop appears to be sometime in 2026, based on current Fed outlooks and inflation trends.
Buyers: This is a rare window of opportunity to enter the San Diego market with less competition, more negotiable sellers, and increased inventory—conditions we haven’t seen in years. If you’re planning to buy and hold, today’s softening market may offer excellent long-term value.
Sellers: Pricing strategy and presentation are everything right now. Overpricing will only lead to extended time on market and price reductions. If you’re planning to sell in the next 6–12 months, talk to an agent who understands this market and can help you position your property correctly from the start.
The Downtown San Diego real estate market is adjusting—not crashing. After years of rapid growth, a measured correction like this one is healthy. While we may see a few more quarters of softness, fundamentals remain strong, and long-term demand for San Diego housing remains robust.
If you’d like specific data for your neighborhood or want to discuss whether it’s the right time to buy, sell, or hold, feel free to reach out to me at 619-606-2596. Knowledge and timing are more important now than ever.
Looking for an amazing off market pocket listing property?
Here is a truly rare offering—this private, one-of-a-kind townhouse at the prestigious Park Laurel enjoys unobstructed, direct frontage on the iconic Balboa Park. Re-imagined through a meticulous full-scale renovation completed in 2023/2024, this residence blends timeless sophistication with modern innovation.
Rich hardwood flooring flows throughout, complemented by bespoke Rutt solid wood cabinetry, custom solid walnut built-ins, and Rocky Mountain bronze hardware. The kitchen is outfitted with top-of-the-line Gaggenau appliances, including dual full-height wine towers, while Visual Comfort lighting and sleek, modern linear ceiling vents elevate the ambiance.
Thoughtfully engineered for both beauty and tranquility, the home features enhanced soundproofing with multiple layers of QuietRock drywall, motorized privacy shades, and a state-of-the-art pneumatic elevator.
The luxurious primary bath showcases a fully ADA-compliant walk-in/roll-in shower, exquisitely wrapped in Calacatta marble.
Additional highlights include a private, gated entrance to Balboa Park, an oversized gated garage with two generously sized storage units, and seamless indoor-outdoor access—offering the perfect blend of urban convenience and serene park-front living.
Luxurious TownHouse at Balboa Park in the Park Laurel building.
The Park Laurel building is one of the top 10 condo buildings in San Diego, click this link to see the list.
The recent surge in global trade discourse dominating the headlines has prompted a
noticeable pause among prospective buyers,resulting in the slowest pace of sales
observed in over two decades-dating back to 2003.Despite this slowdown,prices
have thus far remained resilient,registering a 1.7% increase in the first quarter.
However,I anticipate a decline in pricing during the second quarter.One key factor
contributing to this potential downturn is the significant rise in inventory,with the
number of active listings in 92101 increasing from 200 to 300.This shift comes at a
critical time,as spring traditionally marks the peak of our sales cycle,largely fueled
by seasonal demand from summer home buyers,particularly from Arizona and
neighboring regions.
Who needs more space downtown San Diego? Check out this Harbor Club penthouse encompassing the entire 37th floor with over 4,100 square feet and 360 degree views including the bay, ocean, Mexico, Coronado, Coronado Bridge and the downtown San Diego city lights.
Click to see more pictures and a full description
The downtown San Diego condo market was a little soft coming out of the super slow forth quarter of last year. Buying activity has been picking up this spring with buyer from Arizona and Palm Springs shopping for second homes before summer arrives.
Its not often you get the opportunity to live in a true top floor corner penthouse condo in downtown San Diego, but today you have that chance. Check out my new listing in the CityFront Terrace condominiums located in the highly coveted Marina neighborhood. Residents at CityFront Terrace love this complex for many reasons, too many to list and one must see in person to appreciate.
For more information click the link below or give me a call for a personal tour.
Mark Mills 619-606-2596
