One of the best resources for current news about real estate in California is DQ News. They source their information from San Diego based analytics firm named DataQuick. Data Quick is a company which monitors real estate activity nationwide, and provides information to consumers, educators, as well as companies and industry analysts. In their February update, DataQuick reports that an estimated 376 new and resale condos have sold in Central San Diego (They consider Central San Diego the area from La Jolla down past Downtown and west of the 15 Freeway ) in the month of February. This represents a 21.4% increase from January sales. Please refer to the chart from the Union Tribune for the actual statistics. Here are some updates from the February Condo Sales.
- Indicators of any market distress continue to decline.
-Foreclosure and Short Sale Activity remain well below the numbers from 2013
-Financing for multiple mortgages is low, meaning most new loans are originated with at least 20% down.
Downtown San Diego Real Estate sales continue to hold steady. There were 61 sales in February with a Median Price of $427k. Currently there are 249 condos for sale in Downtown San Diego. Please contact us at 92101 Urban Living if we can be of assistance with any additional information.