Snapshots

San Diego homes near main job clusters see highest appreciation

It is no surprise that homes along the coastline have the highest prices.

January 15, 2020
  • It is no surprise that homes along the coastline have the highest prices. However, the story is the recent mid-cycle to current cycles contrast of where home appreciations are clustered. The denser neighborhoods that are closer to the main job clusters of Sorrento Mesa/UTC, Mission Valley, and South Park have seen the highest appreciation.   
  • Access to affordable homes, local amenities, and job centers has contributed largely to these higher levels of appreciation. These communities offer all these assets for the younger first time homebuyer.
  • According to Forbes and Zillow, both San Diego and Boston are expected to see uptick in first-time homebuyers for people in their 30’s in the next few years. This is primarily from rising wages and a tech established job market.
  • It is forecasted that over the next five years, owner-occupied housing should increase from 50.9 percent to 51.3 percent, which will impact housing appreciation even further in the more affordable and job centric neighborhoods.

Source: JLL Research, ESRI, Zillow

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