Buying a $1,000,000 San Diego property for $500,000
George Lorimer
Friday, February 9, 2024
Buying a $1,000,000 property for $500,000. Sounds too good to be true? Well, thousands of people did just that in 2014.
The median price of a single-family home in San Diego County doubled from January 2014 to January 2024, from $474,250 to $976,250.
Over the last 10 years, the appreciation of homes in San Diego has been approximately 7.24% on average. If you compound 7.24% annually, you will double the value of your home every 9.6 years.
When you consider a 10% down payment investment, your downpayment investment could double in less than two years!
Let’s find you a deal in today’s market.
-George 619-846-1244
Find Out What Your Home is Worth Today
With real estate, there's no guarantee for prices to continue going up, but here's what to remember. 1. There are fewer homes being built than people that live here. 2. rents and home prices tend to go up higher than salaries or wages because it is necessary. San Diego continues to be an employer hub and is getting former San Francisco and LA residents.
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