Downtown 2012

Looking back at the properties that have sold in the second quarter of 2012, we have wittnessed an interesting transition in the market…

There were a total of 283 homes sold in the 92101 Zip Code (Downtown) during the second quarter of 2012.  Of the properties that had sold, we saw a significant shift from Developer (New Construction) properties sold,  to Resale Properties.

We have seen the Resale segment of the market increase from 39% in 2011, to 56% in 2012.  Because the new construction inventory has dwindled, and no new condo buildings will be built Downtown in the forseeable future, it is expected that this trend continues.

Breaking down the 92101 (Downtown) Zip Code by neighborhood, we have complied a list of buildings that have out sold the competition in their surounding neighborhood:

Downtown San Diego’s Best Selling Condo Buildings By Neighborhood- 2nd Quarter 2012

Eliminating the Developer Sold Properies, the following is a breakdown of the hottest selling condo buildings by community in the 2nd Quarter of 2012.  Click on the highlighted hyperlinks for specific community details.

Columbia District

(3-way tie)

Electra– 9 Properties Sold

The Grande (South Tower)- 9 Properties Sold

Treo– 9 Properties Sold

Cortez Hill

Palermo– 6 Properties Sold

East Village

ICON– 9 Properties Sold

Little Italy

La Vita– 5 Properties Sold

Marina District

Cityfront Terrace– 9 Properties Sold

Interesting enough, there were 5 different condominium complexes that sold 9 properties, with no single condo complex that hit double digits, or stood out from the rest.  I look forward to look at the remainder of the year to see how the overall trends pan out for 2012…

If you are interested in learning more about Downtown San Diego Condos, give us a call…  (858) 531-8785