It’s no secret that the real estate market is constantly shifting, and the hotel industry is no exception. According to recent data released by the San Diego Union-Tribune, the number of hotel sales in San Diego County has hit another low mark, falling 54 percent during the first half of this year compared with a year earlier. This marks the steepest decline in more than a decade.
This decline isn’t just in the number of transactions, but also in the dollar volume. The dollar volume of hotel sales fell 51 percent from $200.4 million a year ago to $97.5 million during the first six months of 2024. This is the fifth steepest decline since 2009.
While there are some factors contributing to this slowdown, it’s important to remember that San Diego is a resilient market. Many buyers are still looking to invest in the area, and there are still opportunities to be found.
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If you’re thinking about buying or selling a hotel in San Diego, I encourage you to reach out to me. I have a deep understanding of the local market and can help you navigate the complexities of this unique sector. I can provide you with expert advice and guidance to help you achieve your real estate goals.
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