Per the San Diego Business Journal, real estate advisors The Mark Company recently issued a report comparing Downtown San Diego condo prices to other major California markets, and you might be surprised by the results.

Between November of 2016 and November 2017, condos in San Francisco saw a three percent drop while Los Angeles had a six percent rise. San Diego, however, saw a 13 percent rise over that same time period, more than double of that of Los Angeles. The cause appears to be all the newly built condos in Downtown San Diego, which are adding more inventory per capita by comparison.

Selma Hepp, chief economist with Pacific International, is quoted as saying, “it’s the highest appreciation that we’re seeing in condos in California.”

Despite the increase, San Diego is still cheaper by the square foot on average. San Francisco is $1,717 per square foot, Los Angeles is $777, and San Diego follows behind at $719. Average resale prices were $1,057 per square foot in San Francisco, $711 in Los Angeles, and $614 in San Diego.

The report also showed that resales rose nine percent in Downtown San Diego over the year, compared to 14 percent in San Francisco and Los Angeles, respectively.