Downtown Condo Prices Up 3% From 2014

SAN DIEGO—Prices for condos in Downtown San Diego decreased 2% in August from the previous month to $644 per square foot, but rose 3% compared to the same month one year ago. This according to the Condominium Pricing Index released this week by The Mark Company, a leading urban residential marketing and sales firm. The company added Downtown San Diego to its Trend Sheet coverage just this month.

“There have been no new condominiums completed in San Diego since the last recession,” said Erin Kennelly, senior director of research. “Bosa’s next offering, recently named Pacific Gate, will be the first new condominium development in Downtown San Diego since its previous development, Bayside at the Embarcadero was completed in 2009. Apartment construction, however, has been robust, and there are currently nearly 2,000 new apartments currently under construction.”