The condominium market in Downtown San Diego continued its upward momentum in the 2nd quarter of 2013. Low interest rates, low inventory levels, greater availability of mortgage loans and rising consumer confidence in the market are all contributing factors to the upward price momentum we are seeing for downtown San Diego condos.
Due to high demand we are seeing many properties on a multiple offer situation resulting in final sales price of as much as 5% above asking price. Cash buyers are still strong in the market although facing much stiffer competition from well qualified buyers with conventional and FHA loans.
In the second quarter of the 2013 calendar year there were 251 registered MLS sales for the condo market in downtown San Diego – 92101 zip code.
The average selling price for a condo in downtown San Diego in the 2nd quarter of 2013 was $525,222 up from the 1st quarter average of $506,075.
The average selling price per foot was $460 up from an average of $440 for the 1st quarter of the year.
Sales for downtown San Diego condos ranged between $125,000 for a studio with 525 sq ft ($238 per sq ft) at the Element building on the East Village to $3,400,000 for a 4,049 sq ft ($840 per sq ft) penthouse residence at The Metropolitan also on the same neighborhood.
The lowest priced sale per square foot for the quarter was $232 per sq ft for a 2 bed 2 bath at Union Square (currently in litigation). The highest priced sale per square foot for the quarter was for a penthouse residence at Bayside which sold for $891 per square foot.
On average condos sellers in downtown San Diego received 99% of their asking price which is also up from the 98.4% exhibited on the 1st quarter.
To see a complete list of closed condo sales in downtown please see – Downtown San Diego 2nd Quarter 2013 Closed Real Estate Transactions.
**Also of Interest**
Downtown San Diego 2011 Condo Sales Report.
Downtown San Diego 2012 Condo Sales Report.
Lowest & Highest Priced Condo Buildings (Average pricing per Square Foot)
Lowest Average Price per foot in Downtown San Diego
The Mills = $291 per foot
Element = $293 per foot
Brittany Tower= $305 per foot
Highest Average Price per foot in Downtown San Diego
The Metropolitan = $840 per foot
The Pinnacle= $768 per foot
Harbor Club = $719 per foot
Downtown San Diego Condo Sales by Building
| Building | # Sales in Building |
Average Price |
Average Price per Foot |
| 235 Market | 1 | $405,000 | $391 |
| 350 W Ash | 1 | $300,000 | $432 |
| Acqua Vista | 3 | $347,333 | $437 |
| Alta | 4 | $550,375 | $601 |
| Aperture | 4 | $568,900 | $489 |
| Aria | 2 | $424,250 | $410 |
| Atria | 5 | $319,800 | $418 |
| Bayside | 5 | $1,257,000 | $635 |
| Bella Via | 1 | $451,000 | $439 |
| Breeza | 4 | $566,750 | $488 |
| Brittany Tower | 2 | $597,000 | $305 |
| Cityfront Terrace | 7 | $578,271 | $514 |
| Cortez Blu | 2 | $497,000 | $430 |
| Cypress Hills | 1 | $590,000 | $373 |
| Detached Home | 2 | $675,000 | $397 |
| Diamond terrace | 2 | $324,000 | $377 |
| Discovery | 7 | $468,143 | $411 |
| Doma | 2 | $628,750 | $466 |
| Ecco Lofts | 1 | $355,000 | $448 |
| El Cortez | 2 | $312,500 | $464 |
| Electra | 3 | $579,667 | $501 |
| Element | 3 | $191,500 | $293 |
| Fahrenheit | 2 | $562,500 | $486 |
| Gaslamp City Square | 8 | $299,725 | $426 |
| Gaslamp City Squares | 1 | $425,000 | $455 |
| Harbor Club | 1 | $1,500,000 | $719 |
| Hard Rock Hotel | 9 | $233,992 | $662 |
| Hawthorn Place | 1 | $430,000 | $422 |
| Heritage House | 2 | $347,900 | $314 |
| Horizons | 8 | $644,575 | $501 |
| Icon | 9 | $447,111 | $487 |
| Jacaranda Studios | 1 | $1,888,000 | $526 |
| La Vita | 5 | $463,000 | $496 |
| Laurel Bay | 7 | $365,557 | $437 |
| M2i | 4 | $393,500 | $369 |
| Marina Park | 3 | $402,167 | $351 |
| Meridian | 4 | $1,046,475 | $481 |
| Metrome | 8 | $267,875 | $331 |
| Nexus | 3 | $293,300 | $391 |
| Pacific Terrace | 1 | $310,000 | $401 |
| Palermo | 4 | $272,500 | $390 |
| Park @ 10th | 1 | $405,000 | $353 |
| Park & Ivy | 1 | $662,000 | $365 |
| Park at 10th | 1 | $355,000 | $310 |
| Park Blvd | 3 | $385,333 | $408 |
| Park Place | 4 | $725,750 | $517 |
| Park Terrace | 4 | $319,000 | $432 |
| Park View | 2 | $312,500 | $332 |
| Parkloft | 3 | $669,333 | $390 |
| Porta D’ Italia | 1 | $279,000 | $477 |
| Portico | 6 | $341,650 | $405 |
| Porto Siena | 4 | $437,500 | $445 |
| Prado Terrace | 1 | $230,000 | $354 |
| Renaissance | 7 | $772,143 | $500 |
| Samuel Fox Lofts | 1 | $480,000 | $334 |
| Sapphire Tower | 4 | $1,350,250 | $625 |
| Smart Corner | 7 | $268,643 | $373 |
| Solara Lofts | 3 | $451,000 | $425 |
| The Grande | 11 | $723,636 | $506 |
| The Legend | 3 | $529,317 | $517 |
| The Lodge | 4 | $525,725 | $428 |
| The Mark | 9 | $625,767 | $579 |
| The Metropolitan | 1 | $3,400,000 | $840 |
| The Mills | 2 | $343,500 | $291 |
| The Pinnacle | 2 | $1,152,000 | $768 |
| The Titan | 1 | $203,000 | $345 |
| Trellis | 1 | $525,000 | $670 |
| Treo | 9 | $466,944 | $432 |
| Union Square | 6 | $347,717 | $310 |
| Village Walk | 1 | $539,000 | $426 |
| Watermark | 3 | $681,667 | $459 |
| Averages | 251 | $525,222 | $460 |
*Source: San Diego MLS – Date deemed reliable but not guaranteed.
Please read our guide to downtown San Diego condominiums for additional information related to each neighborhood and residential condo building in the city. You can also contact us for assistance.