SOLD BY WESLEY GUEST FOR FULL PRICE $385,000. Rare premium move-in ready condominium opportunity available now at 235 Market. The Marina District location is highly desirable sitting only one block from the famous Gaslamp quarter, two blocks from Horton Plaza, & everything else the city has to offer. All appliances are included. Highlights include track lighting, new paint, newer carpet, & a convenient location within the building itself. Amenities include a fitness center & a large common area rooftop with barbecues & plenty space to socialize.
SOLD FOR $615,000 BY WESLEY GUEST. Beautiful move-in ready condo at the desired Horizon tower available now. This cozy 1 bedroom with a den/office features hand-scraped hard wood flooring throughout, granite counter tops, a fireplace, recessed lighting, 2 separate bathrooms (master has it’s own shower/tub and second has a shower), bay views, parking, and a storage unit. Horizons is located close to all the shopping, restaurants, nightlife, and entertainment Downtown San Diego has to offer.
Horizons was built and completed by Bosa Development in 2002. It consists of the full city block bordered by Island Avenue, Market Street, Front Street and First Avenue. Horizons offers 211 condominiums with floor plans ranging from 900 sq. ft. to 2,111 sq. ft. Horizon is considered the first luxury high-rise of the new age buildings in The Marina District and Downtown San Diego. Amenities included are entrance lobbies, 24 hour security, an outdoor swimming pool and spa surrounded by a large deck, an extensive fitness center with men’s and women’s change rooms and saunas, conference rooms, computer rooms, social lounge, outdoor barbecue area, bike storage, individual storage lockers and a video-monitored building entry system.
What is a typical day really like in real estate? I thought I’d spend the day with you and show you my typical day as a busy real estate agent in San Diego. I start off by leaving my office in Downtown San Diego and visiting my listing in Torrey Highlands (1:06) and then a quick trip south to Pacific Beach to visit my Riviera Drive listing for sale (3:35). After that, a quick, lunch break (6:19), meet up with the dogs (5:25), and some late afternoon calls / prospecting (6:40).
Real estate is a great job but it’s really nothing like what many TV shows are produced to be such as Bravo’s Million Dollar Listing. I think HGTV’s Hunters is more realistic but still not a great view into a typical day for a real estate agent.
We actually have a decent selection of real estate for sale in the Downtown San Diego for mid April 2014. Based on the close of March 2014, Downtown is in a “normal real estate market” but we are starting to see signs of shift back to a “seller’s real estate market” as inventory is declining and the number of sales continues to rise.
The most exciting news to report is the median sales price. We have not seen a number as high as $523,750 since 2008! Some statistics to note for the Downtown San Diego real estate market below:
- Median Price: $523,750… Haven’t had a median number that high since 2008!
- Active Market Time to Sell a Downtown Condo: 20-30 days.
- Total Sales March 2014: 64 Sales.
- Currently 271 Active Listings for Sale.
Do you agree? Disagree? Please feel free to “speak your mind” using the form below:
Downtown San Diego Real Estate Market Report for December 2013:
The average price and median price for December 2013 are both still up in the double digits. We are primarily interested in the median price as it eliminates any major outliers but it is interesting to compare it versus the average price which came in very strong as well. Also, the 12 month median price trend depicted in the graph below is very promising.
- Median Sales Price: $447,500 +15.1%
- Average Sales Price: $520,299 +13.6%
The median amount of days on market is relatively low at 36 days. The average is 65 days but this figure is severely skewed by several short sales that have been hanging around for years. The median is much more applicable and realistic for this report. Sellers can expect to be on market for around 36 days when selling their Downtown San Diego Real Estate / Condos (Even less time if you price your condo right and use a real estate video tour to market the property).
- Median Days on Market: 36 Days +5.5%
- Average Days on Market: 56 Days +13.6%
The market is a Normal Market. There are currently 257 actively listed properties in the 92101 zip code. If we divide that total by the number of total sales last month at 47 sales, we get 5.47 (5.47 month’s worth of real estate inventory). This means it would take 5.5 months to sell the current inventory available for sale. Anything between 3-6 months is generally accepted as a balanced or normal real estate market.
- 257 Active Listings for Sale as of 12/2/2013.
- 57 Total Sales last month.
- 4.5 Month’s Inventory (257 Active Listings / 57 Sales) Normal Market
Breakdown by Neighborhood for December 2013:
- East Village – 14 Total Sales, median price was $415,500
- Columbia District – 7 Total Sales, median price was $479,000
- Little Italy – 6 Total Sales, median price was $460,000
- Marina District – 9 Total Sales , median price was $585,000
- Cortez Hill – 7 Total Sales, median price was $450,000
- Gaslamp Quarter – 2 Total Sales, median price was $289,560
Summary: The holiday season is here and it is showing in the market data. The 47 sales for the month is the lowest number of sales we have seen in the Downtown San Diego real estate market since 2008. I wouldn’t read too much into it. January 2014 could bring another real estate run, maybe similar to what we saw for 2013. Real estate prices continue to climb as more inventory becomes available for sale.
Questions? Comments? Please send them my way!