The question I get asked most frequently is “Where can I find a San Diego home for under $500,000″? I originally wrote this post January 2013. Since then home prices have increased. The average listing price is up. The good news is there are more homes currently for sale. There are very few homes under $500,000 currently available in Rancho Bernardo and Rancho Penasquitos.
Here are some good locations with single family homes available for under $500,000.
Poway currently has 18 listings under $500,000. The average list price is $460,000
Mira Mesa right now has 28 homes available, not including short sales. This is twice as many as there were in January 2013. Prices start at $359,000 to $500,000. What can you expect? Homes range in size from 1,000 to 2,000 square feet. The homes were built in the 1970′s. Many of the homes are sold “As Is” and need some work.
Mira Mesa homes for sale under $500,000
Clairemont currently has 27 homes mostly built in the early 1960′s from $449,000 to $500,000. The homes are typically 1,000 to 1,700 sq.ft.
Oceanside has 65 homes for under $500,000. The average home for sale for under $500,000 in Oceanside is listed for $420,000 and has 3 bedrooms. Most of the homes available were built after 1980. Last December the average listing price was $385,000
Vista has 65 homes under $500,000. About half of the current active listings under $500,000 were built after 1970.
I found 11 homes listed for sale in San Marcos.
In Escondido I found 100 homes under $500,000 with an average list price of $400,000.
Another great location is Santee
Overall, from last January 2013 to now prices have increased. However inventory has also increased. If you see any home you would like to tour just give me a call 858-603-2895
If you are not sure how much home you can afford to buy, click the Mortgage Center. It has all the information to help you get started on buying a home.