San Diego Area Apartment Sales Hit New High in August
- Share via
Sales of San Diego area apartment buildings hit a new high for the year in August, while permits for new apartment construction surged 39% from a year earlier, according to a Southland real estate brokerage firm.
A report by John Burnham & Co. said 134 San Diego apartment buildings with a total of 1,610 units changed hands in August, up 36% from the 98 sales of 889 units a year earlier. Sales in the first eight months of the year were up 43% from the same period in 1987.
Permits for new apartment construction totaled $43,147,958, up 39% from a year earlier, as builders rushed to get permits before San Diego voters have a chance to put stricter curbs on development in November balloting, the report said. However, the value of permits issued in the first eight months of this year was 29% below the value of permits issued in the same period a year earlier.
More to Read
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.