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In April, condo sales jumped 58% from January, as the last post went into more detail with. In this San Diego Real Estate post on the Downtown Condo and Home markets, we’d like to share with you the Sales Statistics by Area. Downtown is comprised of 8 districts, each with their own character, unique tastes, and separate advantages.
Take a look at April’s Sales Statistics for Downtown San Diego by district/area:
The Marina District of Downtown San Diego blew away the other districts in April. Being the most upscale and expensive district, it’s no secret why. The wealthiest of the bunch were not as affected by the credit crunch last year and still have a lot of their buying power. With the San Diego Downtown Real Estate market bottoming out, they have come out from hiding and want to start buying the best of the real estate condos that are available before everyone starts buying condos and homes again too. Investors and the wealthy are always the first to act, and then everyone follows closely behind. East Village and Little Italy tied for 2nd place with 16% of the market sales each. Little Italy is quickly becoming one of the hottest destinations in San Diego because it’s part of downtown, but has a neighborhood feel no other downtown district can compete with. East Village is popular due to its proximity to the Petco Park stadium and the Gaslamp, where all the partying goes on. It’s no wonder why this is such a popular district too. Cortez Hill, The Gaslamp District, Banker’s Hill and the Columbia District sold some great units as well. The Gaslamp has more commercial real estate than residential so they can’t sell as much as some of the other districts. The Columbia district only houses 2 residential complexes, The Grande, and Treo, which both sold a few units in April 2008.