Ranked as #3 best places to live in California, #9 in best places to live for quality of life, and #12 in the safest places to live; San Diego, CA is truly a fantastic place. It boasts high average incomes, safe neighborhoods, and family-friendly activities for all ages. With almost perfect weather year-round, it's no wonder this locale is popular with residents and visitors alike.
This bustling city is rich in history with real estate, including the Casa de Balboa and the San Diego Trolley. Residents enjoy a multitude of museums ranging from the Aerospace Museum of California to La Jolla Children's Museum. With prominent universities, sought-after locations, and high income, it's easy to see why living in San Diego is a good choice.
Quick Facts:
- San Diego has approximately 1,423,851 residents.
- The cost of living is 13% higher than the average
- The median home price is $860k currently.
- The average price per square foot is $225.
- Real estate is trending up 17% over the past year.
San Diego, CA, in a Nutshell:
San Diego, California, is the city of the future. It is a beautiful area with perfect beaches and hot weather all year round. Not only that, but it also has so much to offer families and individuals. From the San Diego Trolley to gorgeous views of the Pacific Ocean, this is a place worth visiting and living in.
Although it has a fairly large metropolitan area with over 1.4 million people, it still maintains an old-fashioned feeling that many people love. It is very tourist-friendly, especially for those seeking sun and water-filled fun. In fact, San Diego is the third best place to retire in America for its beautiful weather and great opportunities.
Economy:
Known as the second-largest city in California among all ten big cities, San Diego is compelling, with a strong economy for the past years. With a low unemployment rate of only 6.6% and one of the highest GDP in California, the city is the #1 in military defense, contributing to 32% of its revenue.
San Diego also has a 15% lower crime rate than the average, making it safer than the 34% of the cities in the US. This attracts many families to relocate here because even though it is becoming one of the biggest cities in the United States, crime rates here are not going to get out of hand.
Its population is also very dynamic, with the majority of its citizens born in the United States. Approximately 65% of the people living in this city are happy with their life here. That's why big companies and individuals choose to relocate here to enjoy a better lifestyle.
Weather:
With perfect weather year-round, you can enjoy the many things San Diego has to offer. With fantastic beaches and bright sunshine, this city is an ideal location for outdoor activities.
In addition, it rarely gets cold; the city is said to have at least 50 degrees and at most of 80 degrees except for December. So, if you're looking for a warmer place to live in with an opportunity for outdoor activities, San Diego is the perfect place to move to.
Transportation:
San Diego is surrounded by affordable public transit systems, including trains, busses, and trolleys. It is the center of transportation in Southern California, making it very easy to get around the city.
Public School:
With big universities to choose from, San Diego is also an excellent place for students. With great schools, such as San Diego State University and the University of California, and many to choose from.
Here are the top public schools in the city:
- Canyon Crest Academy
- Torrey Pines High School
- Westview High School
- Del Norte High School
- Helix Charter High School
Real Estate Condition in San Diego, CA
(Data from August 2021)
Housing Demand:
According to Redfin, San Diego has had a whopping 83% score to its listing demand for the past three months. In addition, Redfin stated that many homes get multiple offers and some with waived contingencies. This is an excellent sign for people looking to either buy or sell their homes.
Homes were able to sell above the listing price, 7% of the time. With only 61 days on the market, homes are sold at a fast rate.
As you can see, it's a perfect time to sell your home. If you have been planning to either sell or buy a house, this is the city to be in.
Housing Supply:
For over a decade, the population in San Diego has gone up to 50%, increasing the housing demand, making it a good deal for housing supply across the city.
However, with a massive constraint to the housing supply, the limited inland area has been a significant problem. Since houses aren't allowed to be built on water and regulations limiting high-density construction, potential homebuyers have minimal choices.
With a limited supply of houses, it is believed that demand will eventually go up.
Market Trend:
With an average of $850k median home price, San Diego has spiked its housing demand by 27.6% from the previous year. This is very likely that more home buyers are looking into either buying or selling a house in San Diego.
Single-family homes are currently in high demand and grew by 16% over the last year. In addition, the average of 1.5 months to sell, making it a wonderful time to buy or sell a home.
Final Thoughts
As seen by the numbers, investing in real estate in San Diego has been a very good deal for many, although hard to enter the market. It is predicted that San Diego will continue its new housing development, putting a positive sign for future demand.
Have a comment, tip, or concern?
Thanks for reading Elite Informer! Here's more where that came from.