February 2024 Multifamily Sales Report - San Diego
Key Points
- San Diego County’s multifamily market saw a surge in activity, with February transactions more than doubling January’s numbers (12 vs. 5).
- 185 Saxony Rd. in Encinitas topped the charts as both the largest sale by price ($12.7 million) and unit count (35 units).
- Smaller properties ruled the roost, with transactions involving buildings between 5 and 9 units comprising half of all deals.
- The average age of properties sold hit 57 years old, unsurprising given San Diego County’s dearth of new multifamily construction.
- San Diego city dominated local transactions, capturing 7 out of 12, while North County secured the remaining 4.
