Having observed the market in San Diego for nearly thirty years, it becomes clear that even within the same city, neighborhoods operate on different cycles. I will summarize the recent prices and trends focusing on three areas that Korean households frequently inquire about.

Miramesa is a neighborhood close to a concentration of IT and biotech jobs, maintaining steady demand, with single-family home prices ranging from $850,000 to $950,000. Over the past year, it has shown a gradual upward trend, and the reputation of the school district continues to influence buying decisions.

Clairemont, thanks to its proximity to Mission Bay, has prices forming between $950,000 and $1,050,000, and there has been an increase in demand for purchasing and remodeling older homes, leading to active transactions. However, prices have already risen significantly, and the pace of increase has noticeably slowed recently.

Rancho Bernardo and Rancho Penasquitos are areas with a high preference for school districts, forming a higher price range between $1,100,000 and $1,300,000. In contrast, condos near Convoy Street, close to Koreatown, are relatively easier to enter, priced between $500,000 and $650,000.

In terms of investment value, I lean slightly more towards Miramesa. There is potential for improved public transportation access with discussions about trolley extensions, and its proximity to job centers provides stable rental demand.

In terms of rental yield, condos in Kearny Mesa or near Convoy tend to show relatively high yields in the mid-4 percent range, while single-family home areas like Rancho Bernardo, with higher sales prices, tend to drop to the low 3 percent range. If cash flow is a priority, condos may be the way to go, while those valuing long-term asset appreciation should consider single-family home areas.

A risk to consider is the ongoing supply shortage in San Diego, which has persisted for a long time. If new developments begin in earnest, there is a possibility of oversupply concerns in some condo-dense areas. Additionally, higher-priced areas tend to react particularly sensitively to changes in interest rates.

Korean households often prioritize accessibility to the Convoy Street commercial area and school districts for their children, leading many to first consider Miramesa or Clairemont.