Four San Diego Neighborhoods to look out for in 2021
Home prices & sales continue to rise throughout Southern California and San Diego is no exception. Low inventory with a great amount of buyers makes almost all of the regions within San Diego to become very competitive. Traditionally buying a property at an asking price no longer exists and most buyers are expected to pay up to 5 – 8%, with some over 10%, more than the asking price. Although the initial closing cost might cost a pretty penny, it’s all worth it especially when the buyers invested in an up-and-coming neighborhood. Pent-up demands alongside low mortgage rates has the San Diego housing price increase at a staggering rate. With the right investment in the right neighborhood, your property value can potentially double within 10 years. Out of all the areas in San Diego, here are some of the neighborhoods to look out for in 2021:
Rancho Peñasquitos
Rancho Peñasquitos is an up-and-coming urban community with many new developments currently being built. This area is known for its unique terrain with canyons, hillsides, miles of hiking and biking trails, and abundant space for outdoor enthusiasts. Rancho Peñasquitos is primarily residential, with the remaining land devoted to parks and open space. There is only very little commercial development as its primary focus is to preserve and enhance the natural landscape.
The latest development in the area is Lennar’s Pacific Village, located right in the heart of Rancho Peñasquitos. The entire community project promotes sustainability by building solar-powered homes, multiple vehicle charging stations, and home-automation technology to conserve energy. The community project will be made available by Spring 2021.
This is also a great place to raise a family because everything is within reach. It’s a paradise for outdoor enthusiasts with activities available, such as hiking and biking trails. Take a short trip downtown for your basic shopping needs, including Costco and Trader Joe’s. There is a great sense of community in Rancho Peñasquitos, with an increase of 1.9% in average sell price compared to 2020.
Carlsbad
Home of Legoland, this city is named one of the top 20 wealthiest communities in the regions. Away from the touristy crowd, five beaches are made available for everyone in this neighborhood. The five beaches include North Carlsbad, South Ponto, South State, Terramar, and Tamarack-State. Other than soaking under the sun by the beachside, Carlsbad also provides outdoor activities from Carlsbad Village, Ranch Historical Park, Aviara Golf Club, and Village Farmers Market, to name a few.
In recent years, the city has gained a reputation for housing some of the most excellent video game studios and generated $152 billion in revenue in 2019. Sunset Magazine also named Carlsbad as one of the top 20 game-changing places to live, recognizing this city’s innovation and opportunity. Compared to last year, Carlsbad’s Median Sale Price has increased by 9.5%, along with a 20% increase in the number of homes sold.
Vista
Situated right between Carlsbad and San Marcos, the city of Visa has a perfect mild Mediterranean climate. The year-round outdoor activities revolve around the rolling hills and pleasant natural surroundings. As an outdoor-centric community,Vista features an amazing Alta Vista Botanical Garden, historic haciendas, and ranches for a whole day of family activities. If your ideal weekend getaway consists of wine tastings, there are several vineyards in the neighborhood for you and your loved one to enjoy.
The current Median Sale Price for Vista is $620,000, with a 10.7% increase compared to 2020. The number of homes sold also increased by a significant amount of 19.7%, causing this neighborhood to be classified as a very competitive San Diego housing market. What’s more impressive is that 55% of the homes sold last year are above list price, and this will continue to be the trend for Vista in 2021.
Rancho Bernardo
Rancho Bernardo continues to be one of the fastest-growing cities in the San Diego suburban area. Located 20 miles north-northeast of downtown San Diego, the neighborhood offers a well-developed and upscale living opportunity with several housing subdivisions and a large senior living community. Each of these communities offer private amenities and resort-style living with swimming pools, tennis courts, fitness centers, and social activities.
The breathtaking canyon views from the area allow you to enjoy your stay with excellent private parks, country clubs, and golf courses. The community hotspots include the Bernardo Winery, which offers a variety of shops, restaurants, and gardens for residents as well as visitors. The Median Sale Price of a home is $690,000, with significant growth of 29.4% from 2020. The number of homes sold also increased by 26%. Due to rising demand, it’s unsurprising that 53% of the houses are all sold above the asking price. The average day on the market per listing is also only eight days! Rancho Bernardo’s picturesque views as well as school district makes it a great up-and-coming neighborhood to live in for 2021.