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Waterfront Property in San Diego

Waterfront property is a hot commodity. A home is described as being a waterfront house if it is a maximum of 150 feet from water. There is one exception to this rule; the home can be more than 150 feet from the water if a road that has a speed limit of a maximum of 25 miles per hour divides it. In San Diego, the most popular areas that fit this description are homes in the Mission Bay area and homes on Shelter Island. There are 174 homes in San Diego that met the criteria for a waterfront property.

Waterfront property is expensive all across the U.S. People pay more for waterfront property because of the view, the easy access, and the environment that comes with living by the water. In San Diego, it is no different. In comparing the price of a waterfront property in San Diego and the median-price of homes in the U.S., the waterfront home cost 240 percent more. The median value of waterfront property in San Diego is $1,924,500. In California, the median value of a single-family home in comparison to the median value of a waterfront property was the most different in Long Beach. San Diego has the second largest gap in California, which is the seventh greatest gap in the U.S.

The greatest reason waterfront properties are expensive in comparison to other properties is that there is a limited supply and a high demand for them. Another reason for the extra expense is because having a home by the water increases certain risk. The infrastructure of the home has to be different. There has to be extra insurance coverage for water damage.

Despite the extra cost, these homes are still selling well. As people analyze the costs and the benefits, the advantage of the view, easy access, and environment of living by the water is winning.

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