Based upon our research of the local San Diego County real estate market, it appears that the real estate market has decreased in Otay Ranch San Diego County, CA. 

This is a discussion on the sales prices for condos sold recently as compared to last year.  In the past 90 days, there have been 12 attached homes that have sold and closed escrow in Otay Ranch, Chula Vista, CA. These attached homes range in price from a low of $249,000 for a 2 bedroom, 2 bath, 721 square foot condo on Santa Lucia Rd in the Terra Vista complex.  To a high price of $485,000 for a 3 bedroom, 2.5 bath, 1794 square foot condo on Thistlewood Ave. in Otay Ranch.  The average sold price is $326,483.  The average price per square foot is $271 and the average days on market are 84 days.

During this same 90 day period last year, there were 22 attached homes that sold and closed escrow in Otay Ranch , Chula Vista, CA.  These condos ranged in price from $299,900 for a 2 bedroom, 2 bath, 963 square foot condo on Paizay Place in the MER SOLEIL complex.   On up to $619,000 for a 4 bedroom, 3 bath, 1987 square foot condo in the Lomas Verdes complex.    The average price of these sold condos one year ago was $405,779, the average price per square foot was $324 and the average days on market was 67 days.   Comparing these figures to the current market are the following; the average price decreased by 20% and the average price per square foot decreased by 16%. This is a large drop in prices do to the correction in the market, high inventory and increase in foreclosures, which are good deals for buyers.

Below is one of the lowest priced Bank Foreclosures in Otay Ranch that recently sold.

076085239_0_21_41305 Mother Lode Way #1, Chula Vista, CA 91913
Listed at a price of $259,900 this condo features 2 bedrooms, 2 bathrooms, with PRIVATE master bedroom on 3rd floor. Square footage is 1,071 built in 2005. End unit, with a private Patio. Enter home thru front door or directly from garage. Washer and dryer hookups are in the garage. Kitchen is very open and bright with recessed lighting.

The real estate market in Otay Ranch has cooled off substantially from a year ago, but we see several signs that a bottom has been reached at this time.  If you would like to view all homes or condos listed for sale, please visit our website at:  County Properties Real Estate.