I checked again. It is still hot outside but summer renting season is mostly over. Large share of listings are for Sept move in.
Prices are even higher. Most 1 bedrooms are 1700+. Plenty of 2 bedrooms are flirting with 3k. Like for sale listings, rent listings are low.
I was worried that the 180 unit Dylan complex opening on the old Bernard school site could soften the market, but obviously not. 1 bedrooms there go for 2400 and two bedrooms for 3000. And it isn’t even a reasonable walk to the beach, though the drive is less than 6 minutes without traffic.
Some of this I think is catch-up growth, as beach rents seemed to lag other parts of the market for a while. Even now the premium for OB/PB/Point Loma really isn’t that high.
In Jan 2017 I predicted 2017 would be hot for RE prices but 2018 would be softer. With this rent growth 2018 looks like it could be a 10% price growth year too.
