Downtown San Diego has been the hub for the construction of condos in recent years. The recent development has made Downtown one of the most desirable neighborhoods in San Diego. It is evident due to the increase in population in recent years, which has more than doubled to 30,000 people.
The housing market across the U.S. has slowed in recent months due to rising interest rates and a shift in the demand in the market. This has contributed to a decline in sales and flattening appreciation. Downtown San Diego is not an exception to what is happening in the housing market, as property values have been hindered in recent months.
The slowing of the market has presented an opportunity for buyers. The recent stalling of market can be used to gain the upper hand when negotiating deals. Buyers can now buy condos downtown for less than in the past. This is a good move, as Southern California coastal real estate does well in the long term and is considered a good investment. The large inventory of condos in downtown as well as the trend in the current market has made downtown San Diego a buyer’s paradise.