On the other hand, are there any prospects of any significant inventory (aside from some possible supply @ VP) coming on the market in the next few years?
Are there any condo projects under construction right now? (I don’t follow the downtown, but I wouldn’t expect any.) Is anyone even going to break ground in 2011?
Downtown condos move at a rate of about 50 per month. 700 condos at VP would make a splash if they were all to land in the multiple listing system simultaneously, but they would be absorbed.
Looking at a wider picture, there are also some condos in North Park, and some more condos in Hillcrest, and lots of condos in Mission Valley, and VP would compete with them too to some extent.
