Real Estate

San Diego condos

By Johnny Fuery ⋅ August 29, 2005 ⋅  Print This Post ⋅ Post a comment

The major news sources I monitor reported a slowdown in the San Diego condo market last week. Based on what I saw last week when I was there, it looks true.

I was searching within approximately a 4 square mile area, and there were almost 40 available properties that turned up in that area within my price range. There were quite a few that had been on the market for well over 30 days — even a handful that were listed for more than 60 and had underwent at least one price drop.

I ended up making somewhat agressive offers on two units. One was accepted within 24 hours.

Time will tell if it turns out to be a good investment. I think it will be fine, but the softness in the market may mean the real estate boom is shortly coming to an end.

I wonder where the next boom/bubble/bust will occur…?