A community within the city of San Diego, Mission Beach, California, lies on the Pacific Ocean‘s shores and covers two miles of oceanfront property. The community has a very laid-back atmosphere and it is a popular weekend destination for those in the surrounding area, with a boardwalk running along the beach and the community stretching to the popular Mission Bay Park to the east. Because of its prime location along the ocean’s shores, Mission Beach real estate is some of the more expensive real estate in the San Diego area and it homes here are highly coveted.

During the year 2009, there were 137 resell single-family homes sold in Mission Beach and 231 resell condos. Combined, there were 396 residential properties sold for the year. The median price of single-family homes was $750,000, down 3% from 2008, and the median price for condos was $402,500, down around 10% from 2008. Overall, the median price for all types of residential homes in Mission Beach in 2009 was $514,000, down 11% from a year earlier.

More recently, Mission Beach homes for sale have actually shown the slightest improvement in pricing. During the month of March, according to the San Diego Union Tribune monthly zip code sales chart, there were 12 single-family homes sold for a median price of $730,000, up an ever so slight 0.7% year-over-year. The condo market, however, showed more signs of a continued struggle. There were 16 condos sold during the month for a median price of $267,500, a decline of nearly 32% annually. Additionally, there were four newly constructed homes sold for a median price of $352,500. In total, there were 32 residential properties sold in Mission Beach in March for a median price of $427,500, down 17% from March 2009.