More and more people are moving to Otay Ranch out in the Chula Vista neighborhood for more space, luxury, and affordability. Pricing anywhere from $200,000-$400,000 less than in downtown San Diego, these newer homes built on the border of Chula Vista are drawing quite a crowd. For instance, a brand-new 1500 square-foot townhouse runs about $378,000, which is approximately $200,000 less then something similar closer to downtown. It's great for families, first-time homebuyers and anyone looking to buy new and seven older home with more issues. But are there any negatives to this area?
Otay Ranch is located about 30 minutes from downtown San Diego, which means that the commute times will be higher and there are higher taxes in some cases. These homes are also in close proximity to the border but it is one of the last places where we can build moderately priced homes. Single-family homes, townhouses and apartments are booming at Otay Ranch and for the first six months of 2017, single-family homes in this area were selling roughly in 30 days and condos and townhomes in less than 25 days.
It's not as inexpensive as say, Riverside County, but it is still a huge draw for San Diego workers. The average commute time is about 25 to 35 minutes depending on traffic but the downtown drive from Riverside's housing hub is about an hour to an hour and a half.
Another draw is the Spanish style architecture, mountain views and strong breezes. Many roads in Otay Ranch have yet to even make their way onto digital mapping applications and cell phone reception could be spotty in certain sections, so there is still that.
Currently there are about 10,000 homes built at Otay Ranch with another 17,000 to come. With area 12 miles wide from east to west and 8 1/2 miles north to south, Otay Ranch is about the size of San Francisco. Otay Ranch was one of the hardest hit spots in the San Diego County during the housing crash and home prices dropped nearly $350,000. But today, the median home prices back up to $505,000.
If Otay Ranch has perked your interest or this seems like someplace you might like to call home give us a call today. I'd love to show you all of the homes in this area that meet your search criteria and price and give you a good sense of what life is like in Otay Ranch.