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Despite the housing slump, the market for downtown San Diego properties seems to be very good. One of the reasons for this is the revitalization of downtown San Diego. The revitalization process, which started more than a year ago, has resulted in a boom in development in the area. A lot more condominiums are being developed in downtown San Diego. The new condos in San Diego are improving the look of the city. Recent research shows that prices of condos in San Diego went up in April 2007. This despite the fact that the rest of the housing market is facing a slump and San Diego foreclosures reached a 10 year high in April. Data for the month of April shows that the price of a condo in downtown San Diego rose by 3.9 per cent per square foot over March 2007. This increase is significant because it is the first increase in San Diego real estate since the slump of 2006. The revitalization of downtown also resulted in an increase in per square price for a condo in downtown San Diego. The average cost per square foot for April was $574. The number of condos sold for the month also rose 4 per cent. Little Italy is one of trendiest of San Diego neighborhoods. As most apartments in the area are just steps away from the trendy boutiques, coffee houses and upscale condos, the sale price of apartment in this area has gone up as well. In fact, Little Italy is one of the more expensive San Diego neighborhoods close to downtown. The average price of condos in San Diego in April 2007 was $696,000. Many of the coastal properties in San Diego sell for a lot more and condos that cost above the average price also seem to be appreciating a lot faster. Last fall was one of the best times to buy and one of the worst times to sell San Diego real estate. Real estate analysis for last year shows that sale of San Diego houses were down by 23 per cent last year and prices of houses were down by 4.5 per cent. However, the housing slum is showing signs of a revival, especially in downtown San Diego. Real estate prices for all of San Diego county real estate rose by almost 4 per cent in March 2007. The incentives offered by San Diego California realtors as well as the attractive loan rates offered to buyers is making homes in San Diego more affordable.
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