San Diego homes are a hot commodity
Housing markets are heating up across the country, with prices on the rise, low mortgage rates and foreclosures falling. People looking at homes for sale in San Diego may have to deal with a constrained inventory, but according to the San Diego Union-Tribune, home prices continue to hold onto a four-year high.
The news source revealed the top 20 hottest San Diego ZIP codes, determined by analyzing sale numbers from September and comparing them with sales numbers from September 2011. The San Diego ZIP code that observed the biggest increase in sale prices is 92014, or the neighborhood of Del Mar. Del Mar's median sale price rose 77.7 percent, from $875,000 in September 2011 to $1,554,500 in September 2012.
Spotlight on: Del Mar
Del Mar is located roughly 20 minutes north of downtown San Diego and is known for its stunning beaches and calm salt water lagoons, as well as for being charming and laid back. The neighborhood encompasses just over two square miles of land and is home to roughly 4,200 residents. One of the reasons for the observed increase in home values in Del Mar may be due to its size, as it is the smallest municipality in the San Diego region. In fact, a group known as the Friends of Del Mar actively work to make sure there will never be any towering apartment buildings in the neighborhood, in efforts to keep the town a beautiful seaside neighborhood.
Runner Up: Golden Hill
The San Diego Union-Tribune revealed that the second hottest ZIP code in San Diego is 92102, or the Golden Hill neighborhood. This area observed a 47.7 increase in sale prices, from $146,250 in September 2011 to $216,000 in September 2012. This area is known for its housing options, ranging from grand mansions to reasonable apartment buildings and charming bungalows.
Family-friendly Logan Heights
Third on San Diego Union-Tribune's list of the hottest San Diego ZIP codes is 92115, or "College" neighborhood and coming in at fourth is the Logan Heights neighborhood with ZIP code 92113. Logan Heights observed a 43.8 percent increase in its median home prices, from $160,000 in September 2011 to $311,250 in September 2012. Logan Heights is a particularly diverse area of San Diego, in both its population and housing offered. Today, this area is made up of single-family residences, rising apartments building and both business and industrial establishments.