Wow the condo owners in downtown San Diego had a great first quarter of 2020 with prices jumping up from a soft fourth quarter of 2019 for an annual gain of 5.7% over Q1 2019.
Luxury condos, defined simply as those over 1,200 square feet, rose 15.8% over last 12 months. The luxury market jumped up more because of some resales of the brand new Savina condominiums that were completed in mid 2019.
This is some good momentum going into the second quarter of 2020 as the stay at home lock downs and the decline in the stock market will put some downward pressure on prices.
