San Diego real estate continued to blossom last month with the best November on record in 7 year. So which areas performed the best and what trends are set to drive the market in the coming year?
Trends Shaping the San Diego County Real Estate Market
A variety of trends are coming together to fuel the local real estate market through 2013 and beyond.
Yes, we have plenty of sun, sand, surf and spectacular views and this will continue to be an incredibly popular region with the coming wave of foreign home buyers during the next 12 months. However, there are other forces at work that promise to boost this slice of Southern Californian paradise even higher in the very near future.
The San Diego Daily Transcript forecasts the SD retail, office and multifamily markets to outperform much of the rest of the nation in the year ahead. The ensuing snowball effect will continue to help draw in more businesses and residents, lifting local commercial and residential property values even further.
At the same time advances in technology, communications and business trends are evolving to create less location dependent companies and workers, helping San Diego to steal more of the limelight and growth from Silicon Valley and L.A. over the next 3 years.
Of course this is a sizable county, so where should investors and home buyers expect to see the biggest gains in home equity ahead?
San Diego's Hottest Zip Codes
While the downtown area is still doing well and many buyers are snapping up appetizing deals by the ocean in La Jolla, many others are being drawn to North San Diego County Inland real estate.
Here home buyers are finding a lot for their money, a little more laid back lifestyle and there has never been a better time to seize on market conditions than this.
The latest round of statistics shows just how incredibly popular this area is becoming, with high double digit rates of growth in home sales volume and significant increases in San Diego home values.
Some of the top performers in November included: