As rising interest rates and sky-high prices have sobered the housing market countywide, condo developers are now selling the condos for less than they did last year. This trend is visible in the low rates for condos in downtown San Diego.



More and more condos are coming up for resale in downtown San Diego as well. The property value of older condos in down town San Diego has stalled. According to recent surveys, median price per square foot for resale of condos downtown in San Diego rose by 0.4 per cent compared to the countrywide gain of 10 per cent.

But this does not mean buying a condo in downtown San Diego is no longer a good investment. All real estate indices do not indicate a downward trend. Real Estate analysts say that since the real estate market is volatile things could change around quickly.

However, all real estate analysts agree that this is probably the best time to buy a condo in downtown San Diego. In fact a lot of property developers are building condos downtown. Sales of downtown condos are also going up. The number of downtown condos sold last year was a 39 per cent increase over the previous year? sales. Resale of condos in downtown San Diego is also on the rise. Analysts expect the figure to go up by at least 10 per cent.

There are several advantages to buying a condo in downtown San Diego. The primary advantage is that the location is fabulous. Most condos in downtown San Diego are only a couple of blocks away from the business centre and the fabulous restaurants. The historic Gas Lamp quarter is also very close for most residents of condos in downtown San Diego.

Another advantage to a condo in downtown San Diego is that most condos offer several amenities such as swimming pools, tennis courts, min golf courses, exercise rooms and club rooms. Most condos in downtown San Diego are gated communities that offer its occupants 24 hour security. As the fees for the security and the cost of building and maintaining the amenities are included in the maintenance fees and shared among all the condo buyers in that complex, no one person has to spend too much.

As real estate values plateau in San Diego, at least for the moment, this may be the best time for you to buy that condo in downtown San Diego that you have always dreamed of.