With an average of 266 sunny days each year and temperatures ranging from the mid-60s in the winter to the mid-70s in summer, it’s hard to imagine a more perfect climate to live in than San Diego, CA. That’s probably why about 1.4 million people call it home.
There’s also plenty of entertainment to be had. Although the Chargers moved north, residents still enjoy an MLB team (the Padres) and several minor league teams. Plus, there’s a world-famous zoo, botanical gardens, Balboa Park, and nightlife in the Gaslamp Quarter. Those who love the Marvel Cinematic University and comics, in general, will enjoy proximity to the annual Comic-Con International convention.
The real estate market in San Diego is booming and according to Jasper Juhl, CEO of Better Estimate, there are so many reasons why you should invest now. The average home price is $550,000 and the median household income is $96,300. There’s also a shortage of inventory which means that prices will continue to rise as demand continues to grow. You can find out more about what it takes to buy property in this area by reading further into my blog post!
With that being said, San Diego is an urban sprawl comprised of over a hundred unique neighborhoods and suburbs. If you’re looking to move in, you’ll want to know which areas best suit your needs and represent the greatest potential investment opportunities.
Whether you’re seeking a primary residence, or you’re purchasing rental properties, we recommend working with a top San Diego property management firm to assist you in maximizing your rent and keeping expenses reasonable. In order to protect future resale value, it is wise to choose a popular location where everyone wants to rent or buy. There are several real estate hotspots to consider.
North Park
SoCal and craft brewing go hand-in-hand, and San Diego residents seeking access to a slew of local beer options will find just what they’re looking for in hip North Park, populated by remodeled craftsman-style homes and a half dozen breweries that have launched within the last decade.
You’ll also find good eats galore, thanks to an absolute glut of restaurants and cafés, both well-established and up-and-coming.
The donut and waffle shops get a lot of attention, but you literally can’t find a bad place to dine in this food-loving neighborhood.
The weekly farmer’s market, featuring local and organic produce, is another excellent draw, and North Park plays host to the SDCCU Festival of Arts annually.
The median home price is currently around $800K, up by about 23% from 2020, but you’ll get a house in a trendy neighborhood for that price.
South Park
As you might have guessed, this neighborhood is located just south of North Park, and the real estate market here is booming.
Here’s The Quick Snapshot:
- Prices are up a whopping 28% over 2020
- Median prices are in the $1 million range
- Most homes are selling at list price within less than three weeks
It’s no surprise, considering the prime location just minutes from the bustling downtown area, but what really makes this neighborhood special is the family vibe, tree-lined streets, and abundance of independent, local businesses, including boutiques, bakeries, breweries, and trendy, farm-to-table restaurants.
It’s a great place to call home, but it’s also ideal for owners and San Diego property management teams looking to capitalize on an upward trend.
Torrey Pines
Anyone looking for low crime, excellent schools, and a neighborhood full of friendly families with children will find it all in Torrey Pines.
There’s also a ton of open space, an award-winning golf course with ocean views, proximity to both the city and the beach, and a nearby natural reserve to explore. It’s hard to think of a better area in which to purchase a home or rental property.
Best of all, those seeking an excellent real estate investment will appreciate the rising home values in this area, which is lumped in with the lucrative La Jolla market.
Sellers made an average of 27% more in 2021 than the year before. Homes don’t tend to spend a lot of time on the market before selling.
Normal Heights
Hemmed in by interstate highways 805, 8, and 15, Normal Heights is conveniently located just about 15-20 minutes from downtown. What makes it so attractive to residents and San Diego property management buyers alike is the affordable housing.
What About Values?
- Pre-pandemic home values hovered around $500K on average
- Over the past year, median home prices have jumped nearly 25%
- Even with the rise, you can still find a home in this quirky neighborhood for under $700K
There are plenty of reasons to invest here. First and foremost, Normal Heights ranks as one of the most diverse neighborhoods in San Diego. This has spawned an eclectic and appealing mix of shopping, dining, and entertainment opportunities.
The neighborhood is designed to be walkable, particularly the Adams Avenue Corridor, which is packed with restaurants, bars, and boutiques. With plenty of nearby hiking areas to explore and tons of annual festivals to enjoy, Normal Heights remains a great investment opportunity.
El Cerrito
This hillside community, dubbed “The Little Hill,” is a thriving community. Students can easily attend the nearby San Diego State University. There are a couple of reasons to keep your eye on this area, whether you’re seeking a primary home or you’re searching for the perfect opportunity to invest.
The proximity of college students keeps the area hip, with a diverse mix of ethnic restaurants and trendy bistros, a bustling commercial district, and clean, walkable streets.
Median housing prices are incredibly affordable for San Diego, hovering in the half-million-dollar range, with property listings often selling in about a week.
Even better, many properties are decent-sized homes on larger lots, although they tend to fall into the fixer-upper category. This serves to make them great investment opportunities!
