Top 10 San Diego Condos

My list of the Top 10 San Diego Condos based on my 20 years of experience living in and selling downtown. 

I have selected the best ten condos in San Diego and here you will learn a lot about them as well as see what is currently listed for sale. I have lived in downtown San Diego for 22 years and have been selling condos with RE/MAX for 20 years, through my experience and the feedback from my clients I have complied this list of the top 10 condos in San Diego. These are the best of the best, suited for the luxury buyer, entry level prices will start around $500,000 and go up to about $5,000,000.

As a potential buyer looking for a condo in downtown San Diego you need to know that there are no new condos under construction and as of early 2023. The last new condo built, the Savina high rise, is sold out. The next new condo will be finished in 2026 or later.

Resale inventory in downtown remains very tight with only 93 units (out of 10,850) for sale as of March 2023. Prices of San Diego condos are up 9.4% in the last 12 months and were appreciating at a very fast pace peaking through May 2022. Prices dropped a combined 8.2% in the 3rd and 4th quarters of 2022.  The biggest drop was in Q3 when mortgage rates rose significantly and the decline was very modest at 2% in the 4th quarter.  So far in early March prices for the luxury market are the same as year end 2022.

Is this the bottom of the market?  To predict that one must look at Supply vs. Demand.  Supply is extremely low.  The top 10 condos buildings have a combined 2,045 individual condo units, presently there are only 16 of them on the market, which is 0.8% of the market.  Off setting that is "demand" is way down with only about 40 condos selling a month vs historical averages of about 100 units per month.   So the market is well balanced with 2 months of inventory on the market.  I think the demand from buyers will increase at a faster rate than the supply as the we progress through 2023. 

There are two huge new construction projects that will dramatically increase the demand for housing in downtown over the next few years as combined they should add over 5,000 jobs in downtown. They are called the "Campus at Horton" project and the Bio Tech (Research and Development District RADD) campus. Ask me for details.

Let me know if there is something specific you are looking for and I will try to find it for you, even if its not currently on the market. Enjoy your visit and please contact me if there is anything I can do to make your next home buying or home selling experience the best it can be!

The above list of the Top 10 San Diego Condos is in alphabetical order.

My Real Estate Blog provides fresh perspective on our market activity. Be sure to check it out!

Sincerely,

Mark Mills
Downtown Condo Expert
RE/MAX City Real Estate
888 W E St #703
San Diego, CA 92101
Cell (619) 606-2596
Mark@LiveAtTheTop.com
CA BRE #01360992
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