Downtown real estate market still going strong

Despite high levels of inventory and slowing overall sales, the Downtown San Diego real estate market remains strong.
As we head towards the summer market, there are reasons to be cautiously optimistic, and one big reason to be sell now.
The subprime mortgage market has all but fallen out. 100% financing is close to gone. How will this effect the condo market? We will wait to see. What we do know, is that the median sales price has increased year over year, a sign that entry level and 100% buyers will have less of an effect on the market.
New projects are on hold, but what is coming to completion are some highly anticipated releases, such as Vantage Poing, Smart Corner and for the uber luxury buyer - Bayside by Bosa Development. Of the three, only Smart Corner is targeting more entry level buyers.
Rates should remain favorable, and the local economy looks good for 2007.
Check out Nuvilla for information on Downtown San Diego real estate.

Homes For Sale in Downtown San Diego

Mnay of the new homes that have hit the market in Downtown San Diego recently are pretty pricey.
There are however, a few developments that offer "affordable" (San Diego style) pricing. Check this blog out for San Diego real estate info. Specifically, note the posts about Atria (a condo conversion near Horton Plaza), Vantage Point (in Downtown's Core District) and the few Fahrenheit units left under the builder close out sales specials.

Downtown San Diego Real Estate

A couple of good values downtown. First, the Fahrenheit building downtown has a few units left in the builder close out stage. Resale units are also hitting the market. Look for some opportunties to get good deals as builder sales and resale sellers compete to sell fast with little margin. Also, as noted in the "San Diego Real Estate Blogs's" Downtown San Diego Real Estate section, Atria is also offering pricing specials in an attempt to sell off before rates price some buyers out. Per square foot (when factoring in HOA's) Atria is one of the best buys downtown.

Real Estate Statistics

November 2005
Condos, Lofts & Townhomes 92101

New Listings: 154
Average List Price: $686,450
Median List Price: $599,000
Total Sold: 48
Average Sales Price: $610,014
Median Sales Price: $535,000
Sold Price/ List Price%: 96.83%
Average Market Time: 63 Days

Real Estate Statstics

November 2005
Single Family Homes 92101

New Listings: 5
Average List Price: $1,059,800
Median List Price: $399,000
Total Sold: 1
Average Sales Price: $625,000
Median Sales Price: $625,000
Sold Price/ List Price%: 100%
Average Market Time: 6 Days