If you’re thinking about buying a condo in downtown San Diego, but you’ve been waiting for prices to drop, you might want to keep reading. For the last 3-4 months, the mid-top end of our market has been painfully slow. Currently, there are ZERO condos in escrow that are priced over $1.5M (I’m not counting any new construction as most of those are not on the MLS). Let me repeat that….there are NO CONDOS IN ESCROW OVER $1.5M IN DOWNTOWN SAN DIEGO. There are however a total of 27 properties listed for sale between $1.5-6.2M.
As a highrise (I don’t like writing high-rise) specialist, I’m always struggling to match my clients’ “wants” with reality. People always want something higher up, or a little bit larger, or a better view. I get it…I’m probably pickier than anyone I know (just ask my ex-girlfriends). Well, to everyone who’s been looking for an amazing property with incredible views that isn’t $4M, I have the perfect place for you – 325 Seventh Ave #2103.
I recently listed an incredible 3BR/2BA condo on the 29th floor of the Pinnacle. 550 Front Street #2903 is located on the NW corner of the building and has panoramic views of downtown San Diego, the bay and ocean, Coronado, Mexico and much more. The owner has made significant upgrades to this property and for a limited time, it’s being offered at a reduced price of $1,645,000-1,795,000 (#3003 sold for $1.8M back in Oct. ’16).
Downtown living is all about convenience and views and Pinnacle residence 2504 offers the best of both! The Pinnacle is located in the heart of the Marina District and has gorgeous panoramic bay and city views. The two bedrooms are on opposite sides of each other, each having its own full bathroom and there’s also a powder room for guests. Residence 2504 has 10′ high ceilings, wood floors, Italian Snaidero cabinetry, crown molding and a massive patio. The master bedroom has a walk-in closet and a second closet (for “him”), a jacuzzi tub, separate shower and dual vanities.
Contact me at 858-243-2092 or [email protected] for more info.
At 43 stories high, Electra is downtown San Diego’s tallest residential tower (now Pacific Gate is tied with it). Unit 2903 is on the north west corner of the 29th floor and has sweeping views of the city, airport, Point Loma, Coronado and the bay and Pacific Ocean. This is a one0-of-a-kind floor plan, as there are only two of these condos to begin with (only 2903 and 3003 share this layout), but the owners opened up the second bedroom to create a more open space. The second bedroom now serves as an office, but could easily be turned back into a second bedroom.
With projects like the Manchester Pacific Gateway, improving Seaport Village and Bosa building ultra-luxury towers in the vicinity, Electra is in one of the best locations to benefit from the billions of dollars of improvements. Take a look at the photos and videos below.
With only 234 condos for sale in all of downtown (only including what’s Active on the MLS), inventory continues to remain low even though we’ve seen a 2.1% increase in new listings – some of which is from Pacific Gate. So far, there have been 14.8% fewer sales in 92101 year-over-year, even though market time has decreased by nearly 19%. August has started off slowly and the general consensus amongst realtors, is that listings are not getting a lot of showings. I don’t know if that’s due to the heat, politics, or people wanting to keep their money in the stock market. Either way, downtown has seen a 5.4% increase in the median home price YTD. At $525,00 (YTD), downtown is slightly below the county median price of $595,000, which is up 8.2% YTD.
I recently listed The Mark #906. This is a south facing 1br/1ba condo on the 9th floor. The property has wood floors in the kitchen and living room and brand new carpet in the bedroom. You have floor-to-ceiling windows that over look the city, pool and courtyard and you get plenty of sunlight. The Mark is a high-end luxury highrise with concierge service, a gym, salt water pool and spa, multiple BBQ areas, a grass lawn and conference room. Please contact me for a private showing.
Denny Oh 858-243-2092 [email protected]
It’s been a few weeks now since Savina and Bosa began their VIP/Private sales for downtown San Diego’s newest condo high-rise. I was there with my own clients to witness the the first few days of condo sales and I have to say, it was pretty exciting. With about 60 condos sold during the private sales, I think Savina is positioned to sell out prior to being completed in early 2019 (certificate of occupancy is excepted for March of 2019). Sales open up to the public later this week on June 24th.
I think part of it’s success is that Savina is not Pacific Gate. I don’t mean this in a negative way, but Pacific Gate is being described as “iconic architecture, exquisite interiors and levels of service and amenities only seen in the most luxurious international hotels.” This is not something downtown San Diego is used to. As a result, I think there are fewer buyers for this type of product. Savina on the other hand, is more typical of what San Diego has seen (in fact, Savina was designed by the same architect that designed Bayside).
Here are a few reasons why I think Savina will sell out faster than Pacific Gate…
Welcome to Downtown Living! Trellis is located in the historic Gaslamp District near Petco Park, the bay, shopping and tons of restaurants. This 2br/2ba condo has been upgraded with wood floors, custom paint and a brick accent wall. The two bedrooms do not share a wall and both have attached bathrooms. Trellis features a rooftop patio area with BBQ, a fitness center, secured underground parking and CC tv. This property is available immediately.
The condo comes with 1 parking space, 1 storage room and no pets are allowed. The owners want a 1 year lease or longer.
Check outlay newest listing, The Mark condo #305. This is a large 1BR/1BA condo on the NW corner of The Mark. Contact me for more info: Denny Oh 858-243-2092 [email protected]