What’s Happening at the Corner of Otay Lakes Road and H Street? On the northeast corner of the Southwestern College campus, near the SWC football stadium, you can see major construction underway. What will be there? You will be excited to hear that Southwestern College will have a Wellness and Aquatics Center on that corner, with an accompanying large building, all at an estimated cost of $52 Million. The facility will include a competitive gymnasium that can hold 2500 people, fitness and cardio work- out area, two Olympic-sized 50-meter pools as well as one 25-meter pool. Existing adjacent buildings will be demolished to make room for the new building, that will house the Math, Science and Engineering classrooms. Spring 2016 www.mcmillinrealty.com Two Great Names One BETTER Company How the benefit of two great
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What’s Happening at the Corner of Otay Lakes
Road and H Street?On the northeast corner of the Southwestern College campus, near the SWC football stadium, you can see major construction underway. What will be there? You will be excited to hear that Southwestern College will have a Wellness and Aquatics Center on that corner, with an accompanying large building, all at an estimated cost of $52 Million. The facility will include a competitive gymnasium that can hold 2500 people, fitness and cardio work-out area, two Olympic-sized 50-meter pools as well as one 25-meter pool. Existing adjacent buildings will be demolished to make room for the new building, that will house the Math, Science and Engineering classrooms.
Spring 2016
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Two Great Names
One BETTER
CompanyHow the benefit of two great
91910
SAN DIEGONORTH INLAND
Mission SanLuis Rey
LegolandCalifornia
San Diego ZooSafari Park
FALLBROOK
ESCONDIDO
RANCHOBERNARDO
VISTA
VALLEYCENTER
JULIAN
PAUMAVALLEY
MT. PALOMAROBSERVATORY
SANMARCOS
TEMECULA
RAMONA
BORREGO SPRINGS
SAN DIEGONORTH INLAND
Mission SanLuis Rey
LegolandCalifornia
San Diego ZooSafari Park
FALLBROOK
ESCONDIDO
RANCHOBERNARDO
VISTA
VALLEYCENTER
JULIAN
PAUMAVALLEY
MT. PALOMAROBSERVATORY
SANMARCOS
TEMECULA
RAMONA
BORREGO SPRINGS
T his northwest sector of Chula Vista has seen 7% annual appreciation in detached housing, and boasts the greatest inventory of any South County zip, with 62 detached units available. The average condo unit is $300,000, a modest rise of 2% year-over-year. Properties go to contract in about 2 weeks and there is a very low inventory available (2 months for
detached; 1 month for attached) in this area.
R unning from L St, south to Main and between the two freeways (5 and 805), this area continues to have the most affordable homes in Chula Vista, with the average detached housing at $429,000 and attached at $294,000. Detached housing appreciated 9% year-over-year, and attached a whopping 26%. Properties go to contract in 2-3 weeks.
Condos in this area are hot-hot-hot, with number sold jumping from 7/month to 13/month.
Average Sales Price $294,503 Up 15% $255,681 Up 26% $236,790
Average Price Per Sq Ft $229 Down 2% $234 Up 10% $209
Median Sales Price $280,000 Up 8% $260,000 Up 17% $240,750
Listing Inventory (Active) 17 Down 15% 20 0% 17
Number of Sales 38 0% 38 Up 73% 22
Median Days on Market 18 Down 18% 22 Down 47% 34
Absorption Rate (month to sell inventory)
1.5 months 0% 1.5 months Down 40% 2.5 months
ATTACHED SALES
S mall and exclusive, just northeast of Chula Vista, this area’s detached housing inventory is 4 months, which means that houses here are selling slower than in any other South County community. Detached housing average sale price of $625,000 is up 4% from last year, and the active detached units available jumped from 38 to 49. Condos in Bonita are hard to come
by, with only 3 active listings. They have appreciated 33% year-over-year, now averaging $280,000/unit. Properties in Bonita take about one month to go to contract.
W ithin the City of San Diego, south of Chula Vista, running between I-5 and I-805, South San Diego single family homes have an average sale price of $446,000, up a healthy 16% year-over-year, with houses going to contract in roughly 3 weeks. Attached housing is averaging $276,000, up 10% annually, and yet these condos average the lowest price-per-
sq-ft in South County at $218/sq ft. No wonder the number of SSD condo sales has doubled in 1st quarter of 2016, compared to 2015. Great value for the money.
Average Sales Price $276,480 Up 1% $274,615 Up 10% $250,640
Average Price Per Sq Ft $218 Up 1% $220 Up 8% $202
Median Sales Price $288,500 Up 3% $279,000 Up 13% $255,000
Listing Inventory (Active) 19 Up 36% 14 Up 36% 14
Number of Sales 30 Down 6% 32 Up 100% 15
Median Days on Market 18 Up 100% 9 Down 40% 30
Absorption Rate (month to sell inventory)
2 months Up 60% 1.25 months Down 33% 3 months
ATTACHED SALES
PAST 10 YEARS
AVERAGE SALES PRICE NUMBER OF SALES
D owntown San Diego is truly a story of the condominium market, with roughly 200 condos closing this past quarter, and zero single family homes closing. The average condo sale price has actually declined by 4% year-over-year. Condos are moving a little slower these days, taking about 3 months to go to contract. Be ready to pay urban prices, with the aver price/sqft
at $524, a 1000 sqft condo runs over $500,000. Thinking of selling? Most go to contract in 3 to 4 weeks. How do agents take you around to see these properties? Uber, of course!
T his oceanfront community is undergoing major downtown improvements, and with that comes an increase in activity. About 18 units sell in IB each month. Two years ago, detached housing increased increased 30% in value, and attached increased 80%. Fortunately, in 2015, prices held those values, but did not climb substantially. About 18
properties sell each month in IB. Condos are now averaging close to $500,000.... and equal to Imperial Beach single family residences. Houses go to contract in roughly 2 weeks, condos in 3
Average Sales Price $490,531 Up 16% $421,468 Up 2% $384,377
Average Price Per Sq Ft $431 Up 31% $330 Up 31% $329
Median Sales Price $550,000 Up 37% $400,000 Up 49% $372,500
Listing Inventory (Active) 23 Down 44% 16 Up 21% 19
Number of Sales 30 Up 58% 19 Up 88% 18
Median Days on Market 9 Down 80% 46 Down 66% 27
Absorption Rate (month to sell inventory)
2.5 months 0% 2.5 months Down 17% 3 months
ATTACHED SALES
AVERAGE SALES PRICE NUMBER OF SALES
PAST 10 YEARS
91932 IMPERIALBEACH
SAN DIEGONORTH INLAND
Mission SanLuis Rey
LegolandCalifornia
San Diego ZooSafari Park
FALLBROOK
ESCONDIDO
RANCHOBERNARDO
VISTA
VALLEYCENTER
JULIAN
PAUMAVALLEY
MT. PALOMAROBSERVATORY
SANMARCOS
TEMECULA
RAMONA
BORREGO SPRINGS
5MCMILLINREALTY.COM 1.800.599.8715
S itting in northeast Chula Vista, east of 805, 91913 is the most active South County market, with 150 closings in the 1st Quarter 2016. Detached housing accelerated 7% in average sale price annually, to $530,000; attached housing experienced a 2% increase, to $336,000. Properties go to contract in roughly 3 weeks. Interestingly, price-per-sq-ft for detached
and attached is almost identical in this area, indicating a strong condo market.
T his properous area encompasses Rolling Hills Ranch, The Gates, and other high-end view properties. The detached houses boast the highest average sale price in South County, at $743,000, up 13% from 12 months ago. Listing inventory is shrinking, now at roughly 2 months. Market time is just one month, not bad for such high-end homes. Condos in this
area are gobbled up quickly. Only one available, and the area typically closing 5/month with an attractive sale price of about $350,000.... half of what the detached go for in 91914.
Average Sales Price $342,633 Up 3% $331,698 Up 9% $313,281
Average Price Per Sq Ft $261 Down 4% $273 Up 9% $239
Median Sales Price $345,000 Up 3% $335,000 Up 10% $314,500
Listing Inventory (Active) 1 Down 83% 6 Down 86% 7
Number of Sales 15 0% 15 Down 6% 16
Median Days on Market 24 Up 100% 12 Up 71% 14
Absorption Rate (month to sell inventory)
.25 months Down 91% 3 months Down 81% 1.3 month
ATTACHED SALES
AVERAGE SALES PRICE NUMBER OF SALES
PAST 10 YEARS
... ABOUT THE MARKET
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E ncompassing Eastlake and Otay Ranch, this newer area of Chula Vista includes many community parks and pools. Most properties have Mello-Roos. Detached housing has broken through the $500,000 average sale price barrier and seems content to remain there for a while. Inventory moves quickly; only 1.5 months available. The condo market has strengthened, appreciating 10% year-over-year, now averaging $373,000, the
highest condo average in South County. Condos sell in about 4 weeks, about 12 changing hands every month.
L ocated just north of Chula Vista, along the bay, most of the National City housing was built prior to 1960. This area shouts “affordable!” with the lowest average detached sale price in South County... at $350,000... up 14% over last year. Not surprisingly, the detached housing has only 1.5 months of inventory available. The condo market’s average sale price has appreciated a
whopping 23% year-over-year,... and yet is still very affordable, under $300,000, but very few units available, with only 3 closing per month.
Average Sales Price $286,687 Up 32% $217,384 Up 23% $215,900
Average Price Per Sq Ft $223 Up 11% $201 Up 8% $207
Median Sales Price $306,750 Up 47% $208,000 Up 35% $227,500
Listing Inventory (Active) 4 Down 20% 5 Down 50% 8
Number of Sales 8 Down 38% 13 Down 20% 10
Median Days on Market 10 Down 41% 17 Down 29% 14
Absorption Rate (month to sell inventory)
1.5 months Up 50% 1 month Down 40% 2.5 months
ATTACHED SALES
AVERAGE SALES PRICE NUMBER OF SALES
PAST 10 YEARS
7MCMILLINREALTY.COM 1.800.599.8715
L ocated just northeast of Chula Vista, along SR 54, Paradise Hills detached housing appreciated a healthy 8% annually, and continues to remain quite affordable, averaging under $400,000. The condo market moves quickly... in 3 weeks, but pricing stabilized in 2015, averaging roughly $270,000. About 22 Paradise Hills properties sell each month, and
monthly inventories are just over 1 month, which is VERY low.
A small town annexed to the City of San Diego, along the US-Mexico border, San Ysidro is a truly bi-cultural community. Only about 6 units/month close escrow here. San Ysidro condos have had a spectacular real estate story the past few months. Condos boast the lowest average sale price anywhere in South County, at $233,000, and conversely, the highest year-over-year appreciation at a
whopping 37%. Notice they are hard to find, with only 1/3 month’s inventory. Single family homes average a low $400,000, and again, low inventory at 1/2 month.