Even within Mira Mesa, there are sub-markets that are behaving differently. Many single story 1100-1400 sq-ft house in MM have dropped about 200k, from 550k to 350k. This are the houses that I say “are taking a beating”. Houses like yours, around 1800+ sq-ft on the west side of Mira Mesa are so far hanging on better. There are 2 houses (without view) ~1800 sq-ft around your area asking for $470k-$485k. They’ve been listed for 40-60+ days and they’re still not sold. I’m a prospective buyer in MM and I wouldn’t pay that kind of premium sellers are asking for those houses vs the 1300-1400 sq-ft single story one in the same area.

I think that type of houses in MM will have a lot more to fall than the 1100-1400 sq-ft houses. I personally don’t think MM will rebound in 2 years, especially when we haven’t even hit bottom yet. The last time it crashed in the 90s, it stayed around the bottom for ~2 years. So I don’t expect to see a recover for probably another 4-5 years.

This all assume interest rate doesn’t rise. All bets are off if it does. If it doesn’t rise, the max I’d pay for your type of house would be $400k and I’d only pay $450k for those 2000+ sq-ft house north of Calle Cristobal. That’s just my 2 cents as a prospective buyer.