In the first half of 2024, San Diego’s ultra-luxury real estate market experienced a notable decline in sales volume, with the total $10 million-plus sales volume amounting to $257.6 million, a significant drop from the previous years. This decrease is largely due to the limited inventory, leading to intensified competition among buyers. Local residents are prominent among luxury home buyers, often seeking move-in ready properties with modern features and outdoor amenities like pools. There is also a growing demand for sustainable luxury properties featuring green technologies such as solar panels and energy-efficient appliances. Architectural preferences have shifted towards contemporary designs with open floor plans and minimalist aesthetics, catering to the desire for visually stunning and adaptable spaces. As we move into the second half of the year, these trends are expected to continue shaping the local luxury real estate market in San Diego, driving the demand for upscale, sustainable, and modern homes.
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Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379
