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2008 Types of Downtown Sales

By Mike in Downtown San Diego Real Estate Market Analysis|January 2009 with 0 Comments


pie-chart-of-2008_resized.jpgJust a brief follow up to the blog posted last week 2008 Breakdown of 92101 Neighborhoods by Sale Type the corresponding Pie Chart gives us a quick glimpse of the types of sales in all Downtown San Diego neighborhoods by type: Developer, REO and Resales.

Developer sales led the way with 43% of all sales, resales followed closely behind with 36% and REO (or bank owned sales) trailed at 21%. 2008 was the last year, until at least 2012, that we’ll see any new residential development in the 92101 area code. While places like Vantage Point, Sapphire and Bayside are still in stages of construction completion there will be no new construction for at least 4 years. This being said, these numbers will begin to change in 2009, hopefully with resales topping the charts and sales from REO’s and foreclosures at a minimum. ')}