Is 2013 the year that San Diego really steals the limelight from San Francisco and Silicon Valley?
Silicon Valley may be the world’s most famous startup capital and home to some of the priciest real estate in the U.S. but could its success finally be its own downfall?
Major advances in technology (and several high profile failures) could be changing the way we work and do business so much that we are now completely location independent. At the same time booming San Francisco commercial and residential prices are so high and so many are willing and able to pay far over asking price that it simply doesn’t make sense to live there anymore. Even if you’ve got the cash, why not get a far more stunning spread to show off somewhere else?
According to the latest round of data from Trulia, while San Diego may offer some equally impressive pads and views, its average home sales price is less than half of that in San Francisco. Perhaps even more telling and a sign that the shift is already in action is the 8.9% year-over-year rise in San Diego home sales whereas San Francisco’s has stayed virtually flat. In fact, San Diego has seen almost 4 times the number of home buyers.
San Diego has been rapidly growing as a destination for business startups and a hot scene for innovators, while sporting some of the West Coast’s most magnificent homes. So expect the most growth here, which is especially important for home buyers and real estate investors.
Buying a home in San Diego today offers a range of great steals by the beach and an equally impressive selection of mountain view properties to the west.
