Downtown San Diego

Going, going, GONE!

Well, here we are approaching June 2012; and as predicted, entry level priced properties in the Downtown San Diego Zip Code 92101 are almost totally extinct!

Soon we may be talking about $200,000 condos in the Downtown area in the same context as the skeletal remains of the wooly mammoth that were found in the East Village a few years back….   Both topics make for great conversations from a snapshot in Downtown’s History.

Downtown San Diego Market Snapshot Under $300,000

So, I found it very interesting in pulling Downtown Properties For Sale Under $300,000.  I was a little surprised to see that the number was a whopping 11!

What does this mean?

Well, by expanding the search to Active + Sold Properties in Downtown that have closed within the past 90 days, I came up with 79.  That means that there have been 68 sales under $300,000 with an average of 22 per month!

In other words, we have approximately an 8 day supply of inventory in the $300,000 or less category!

Shocking isn’t it?

Buying Tips For Downtown San Diego Condos Under $300,000.

1.  Have your pre-approval letter (if financing) and proof of funds for your down payment and closing costs ready to go.

2.  Have a knowledgeable and proactive agent who will notify you once the right property hits the market.  Time is of the essence!

3.  Be ready to to put pen to paper, and in all likelihood, be prepared to come in ABOVE asking price…  Particularly if you are financing or competing for a really good property.

Looking for more condo buying tips?

Send me an email at brent@welcometosandiego.com or give me a call:  (858) 531-8785