If you live for the view, this penthouse at The Mark is a absolute must see unit!

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Currently you can find 8 of the least expensive condos in the Little Italy neighborhood downtown San Diego.  Below you will find the details on the lowest priced unit in the Little Italy area.

We're sorry, but we couldn't find MLS # 100015144 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

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Today was a good day to …

enjoy the Mercato Farmers Market in the beautiful Little Italy district of downtown San Diego.  The weather was picture perfect San Diego weather and the energy was filled with that spring time electricity.

The Mercato is by far one of my most favorite markets in San Diego, mostly because of the location.  We always park in the school lot, it’s free for 2 hours, lot on the east end of Date street. As you walk west through the market you get to enjoy beautiful water views looking towards Pt. Loma.

I also love the fact that the Mercato is still so dog friendly, other markets have banned pets.  It works out nicely since the school also has a large grass area that is allowed for “off leash” dogs to play.  So my dog, Molly, gets to have some fun before walking through the Mercato market with the family.

What is your favorite thing about the Mercato Market in Little Italy?

…landscape has changed dramatically over the past 10 years.  In 2001 there were almost nothing but dilapidated buildings, but with the addition of Petco Park, the Padres major league baseball stadium, the entire East Village Neighborhood went through a major transformation.

In 2002 throught mid 2005, the East Village San Diego real estate market boomed.  Trendy new condos and lofts with ball park and bay views were selling like hotcakes and a mere pulse would be substantial qualification to obtain a mortgage.  In 2006, the Downtown San Diego real estate market started to tank and continued until 2010.

Today, the real estate market in the East Village Neighborhood looks like this:

• 64 East Village Condos for sale (6 bank owned & 15 short sales)
• 30 Pending (6 bank owned & 10 short sales)

About one third of the current inventory is a short sale or bank owned property sale.  With roughly 66% of the East Village real estate for sale as a traditional sale, this brings the market back into a healthier state than seen in 2007-2010.

In the past 12 months, East Village has had 166 sales which averages to 13.8 East Village Condos sold per month.  The number of active homes only provide a 4.6 months supply of homes in East Village.  A 6 months supply is considered a balanced market and anything less, like in this case, would be considered a seller’s market. 

June 2010 = 24 SOLD

• 4 studios or lofts
• 9 one bedrooms
• 11 two bedrooms

July 2010 = 12 SOLD

• 2 lofts
• 7 one bedrooms
• 3 two bedrooms

August 2010 = 24 SOLD

• 2 studios
• 4 lofts
• 8 one bedrooms
• 10 two bedrooms

September 2010 = 14 SOLD

• 2 studios
• 9 one bedrooms
• 3 two bedrooms

October 2010 = 12 SOLD

• 2 studios
• 1 loft
• 5 one bedrooms
• 4 two bedrooms

November 2010 = 11 SOLD

• 2 studios
• 6 one bedrooms
• 3 two bedrooms

December 2010 = 12 SOLD

• 2 studios
• 2 lofts
• 5 one bedrooms
• 3 two bedrooms

 Do you think we there will be more condos sold in 2011?  Do you think we are going to see East Village Condos go up in price this year?

Like many parts of our city, the downtown San Diego neighborhoods experienced a real estate development boom causing a over supply of homes for sale.  However, Little Italy continues to have a very strong market according to our local MLS Sold Stats.

The current real estate market in the Little Italy neighborhood looks like this:

• 55 Active (22 Short Sale & 3 Bank Owned)
• 19 Pending (7 Short Sale & 6 Bank Owned)

Roughly half of the current inventory is either a short sale or bank owned listing, the good news is that the other half is what we consider a “traditional real estate sale”.  Based on the numbers above Little Italy has a current absorption rate of 3.65 weeks of available condo listing inventory.

June 2010 =  15 SOLD

• 2 Studios
• 7 One Bedroom
• 5 Two Bedroom
• 1 Three Bedroom

July 2010 =  15 SOLD

• 0 Studios
• 5 One Bedroom
• 10 Two Bedroom
• 0 Three Bedroom

August 2010 = 13 SOLD

• 1 Studios
• 7 One Bedroom
• 5 Two Bedroom
• 0 Three Bedroom

September 2010 = 8 SOLD

• 0 Studios
• 3 One Bedroom
• 5 Two Bedroom
• 0 Three Bedroom

October 2010 = 12 SOLD

• 2 Studios
• 6 One Bedroom
• 3 Two Bedroom
• 1 Three Bedroom

November 2010 = 7 SOLD

• 0 Studios
• 3 One Bedroom
• 4 Two Bedroom
• 0 Three Bedroom

December 2010 = 13 SOLD

• 1 Studios
• 6 One Bedroom
• 5 Two Bedroom
• 1 Three Bedroom

Do you have any predictions for Jan 2011 SOLD statistics in Little Italy?

HINT – as of this writing (Jan. 27) there have only been 5 units sold in the Little Italy neighborhood.

Share them below.

…to beat the odds.  Despite the troubled economy, Downtown San Diego’s East Village neighborhood is still seeing positive growth.  Earlier this month, the new Thomas Jefferson School of Law had it’s ribon cutting ceremony and now students are pooring in and out of this great addition to the neighborhood.  The New San Diego library construction is underway and is scheduled for completion in late 2012.

In the retail sector, 2011 will see the grand opening of Bub’s Wiskey Dive and Hodad’s Burgers in East Village.  We also expect so see some more cafes and quick stop eateries open up surrounding the Thomas Jefferson School of law to service the new influx of students in the neighborhood.

East Village Condo Market

New construction homes in East Village San Diego have taken a drammatic drop in inventory.  Vantage Point was sold in 2010 as a rental building so this absorbed 679 condos from the market.  Park Terrace condos have completely sold out and today only 8 homes remain for sale at The Mark.  There are only 2 new home sales projects for East Village Real Estate and these include Smart Corner and Bridge View Lofts. 

According to Sandicor, the San Diego MLS provider, in the past 18 months, there have been 277 sold condos in East Village.  With only 59 East Village condos for sale at this time, there is less than a 4 month supply of homes.  A balanced market is generally a 6 month inventory of homes so this moves us into what would typically be considered a sellers market.

Of the 59 East Village San Diego Properties for sale, 11 of them are actually new developer units at Smart Corner and 5 of them are resale units at The Metropolitain on top of the Omni Hotel.  The Metropolitain only caters to the elite buyer that is willing to pay high monthly HOA dues and requires room service.  If you do the simple math, this indicates there is really only a 3 month supply of resale condos for sale in San Diego’s ball park neighborhood.

San Diego East Village Real Estate 2011

In 2011, we will see a final push to build the new San Diego Charger’s stadium in downtown San Diego.   2011 will also bring the development of the bicycle shery lanes on Island Avenue as a test pilot program that could potentially be implemented all over downtown San Diego.  The homeless shelter, which has past been a part of the East Village neighborhood is no longer a pressing issue as it has moved out of downtown.

San Diego was just announced as one of the top 5 markets nationwide and East Village Real Estate has the potential to be the top gaining neighborhoods in all of San Diego County.

Do you think East Village will lead the county for Real Estate gains?

Little Italy has a tremendous sense of community …

Established in the 1920′s, Little Italy has become one of this seaside city’s most desirable neighborhoods over the last decade.

Little Italy boasts scenic water views of the bay and it hosts several annual community events yearly, you can view the 2011 calendar of Little Italy Events here.

Today Little Italy is known as one of San Diego’s premier dining meccas, lunch and dinner hours are a flutter with local business people taking up sidewalk tables at trendy new eateries; as well as the few remaining neighborhood spots that have been around since the community was a quiet little fishing village.

I was lucky enough to open my second real estate office in the heart of Little Italy a few years ago so I got to enjoy the community vibe that Little Italy has to offer: incredible food, Community pubs, Boutique stores, Amici park, the many different street fairs, and local markets.  Two of my favorites are the weekly Mercato and the annual Art Festival.

What is your favorite thing about Little Italy?

I keep a close watch on all the new listings that come on the market in downtown San Diego.  The pattern we’ve been seeing is that our inventory is shrinking and especially in the popular neighborhoods.

A year ago, I could chose a “hot buy” for the week every week and had no problem finding a smoking deal. Today, I find that the inventory is limited and there really aren’t that many great options out there right now.

The East Village neighborhood is no exception to the rule and this month there isn’t anything super exciting to pitch in the most active price range of $300,000 – $500,000.

However, there is a great deal at one of downtown’s most luxurious properties.  The Metropolitain is located at the top of the Omni Hotel which is sandwiched in between the San Diego Bay and the Padres Petco Park.

This is a rare opportunity for the discerning buyer who appreciates having a small number of private residences with their own private entrance and a full service style of living.

Search East Village properties

Petco Park Foreclosure Condos

This East Village bank owned luxury condo is located on the 23rd floor and includes 3 bedrooms, 3 full baths, gourmet kitchen, 2 side by side parking spaces and views that will literally take your breath away.  With the San Diego Bay as your front yard and Petco Park as your backyard, you can’t go wrong!  Enjoy firework shows year round from the comfort of your own home while you order food up from McCormick and Schmicks Seafood Restaurant or from the Omni menu.

Want to catch some rays by the rooftop pool? How about ordering up a refreshing cocktail from your poolside lounge chair. Forgot your towel, no problem, we had one ready for you anyways…

This is the life you deserve and what better opportunity to do it.  With over 2000 sq ft of private and glamorous living space at your fingertips, there is nothing left to do except enjoy…enjoy the views, the space, the service and San Diego.

East Village Penthouse Condos

Room service, valet, guest valet, dry cleaning and more with world class views over the bay make for fine San Diego living.  The kitchen features the finest appliances one would expect in a luxury property.  Offered at less than $1.3 million, this property is a steal!!

Leave a comment below and tell me what you think about the current downtown San Diego Real Estate Market.

Would you like to view this downtown penthouse condo in person?

… experiencing the most growth and development of all the downtown neighborhoods.  With Petco Park it’s heart, East Village Real Estate is thriving. This dynamic neighborhood is comprised of East Village Condos, commercial buildings, restaurants, hotels, and retail stores.

With San Diego’s ideal weather and wonderful bayside location, East Village property is a hot commodity.  The excitement first began back in 2000 with the promise of Petco Park condos with views directly into the Padres Ballpark.  Many ball park condos in the East Village have views over the historic Gaslamp Quarter and the San Diego Bay.

East Village Condos in Downtown San Diego

The longtime vision of the “park to bay” link connecting the largest Metropolitan Park in the US, Balboa Park, to the San Diego Bay is about to become a reality with the completion of the Harbor Drive Pedestrian Bridge.  East Village condos will feel so much closer to the bay and ferry to Coronado with the completion of this milestone project.

If you are looking for an exciting place to live in a clean, stylish, green friendly city, then you definitely need to search East Village real estate.  East Village offers a great balance of healthy lifestyle opportunities including yoga studios, fit athletic, running on the MLK promenade, walking fido or fifi at Park at the Park or going for a bike ride along the embarcadero.

Petco Park Condos

East Village property owners benefit from being just minutes from some great breakfast joints like Zanzibar, The Mission, Cafe Chloe & The Broken Yolk. Join the locals at the trendy restaurant bars like Bar Basic, Neighborhood, The Fleetwood or El Vitral. East Village real estate owners that want a wild night out can walk just a few blocks away to the Gaslamp Quarter’s party zone. With word class bars and Clubs just blocks away you wont’ even need a cab.

Lay low and hit up the movie theaters or go bowling at East Village Tavern and Bowl. If you just want to relax, how about lounging at the pool at one of these great ball park condos. We know East Village Condos better than anybody so let us help you discover East Village real estate. Beautiful people, great entertainment, the weather, the bay, the views…the only thing missing is you.

Leave a comment below and tell us your favorite thing about the East Village Neighborhood