Located in the north inland section of the San Diego metro area lays the city of Poway. It is commonly called the “city in the country” because it lies in one of the nicest sections of the area that seems to be a little out of the way but is still close to the conveniences of San Diego.
Poway is a very affluent area of the metro in which the median household income is about $90K and most of the employment is white collar. Half of the 39 square miles that Poway encompasses is preserved as dedicated open space leaving the other half to accommodate the housing for the almost 50,000 residents.
Neighborhood Highlights of Poway
There are many housing options in Poway from single family homes to condominium and townhome communities to a few mobile home or manufactured housing communities. Single-family homes represent about 80 percent of the housing and start in the low to mid-$300s and climb well into the multi-million dollar range. Some of the more popular subdivisions in Poway are Green Valley where homes are priced starting at about $600K. Adobe Ridge and Lower Windmill feature homes starting slightly less in the high-$400s and low-$500s. Other affluent subdivisions where homes average over $1 million are areas like Country Squire, Green Valley Estates and The Heritage.
In terms of condominiums and townhomes, the list prices start in the mid-$200s and climb to just $400K however, a condominium home can be found under $200K once in communities like Park Meadows. List prices start in the low to mid $200s in communities like Country View, Stoneridge Chateaus and Amesbury Court. Homes in affluent communities such as Heritage Hills and The Square start in the low $300s.
As for mobile home/manufactured housing communities, they are priced from the upper-$70s and to mid-$80s. While they are nearly as prevalent, there are enough to warrant mention.
Real Estate Information
Because Poway is a very desirable location in the San Diego metro, the homes and condominium communities reflect this desire. The most recent information indicates that single family homes have a average sale price of about $620K which is up slightly from previous month. As for condominiums and townhomes, the average sale price sits at about $225K which also points to an increase over previous numbers. Overall, the average number of days on the market sits around 87 days on a rolling three-month average.
The job market looks promising with future job growth of 23 percent increase expected over the next few years. Indicative of that will be the housing market. As with most areas throughout the country, the real estate market seems to have bottomed out and although it is not rebounding at a pace most would like, it is likely to begin to show solid gains over the next couple of years.
A Great Place to Live
Poway is a great area to live. Although the real estate market here is slightly higher than in many other areas of the San Diego area, there is opportunity for home ownership for just about everyone from first time buyers to buyers seeking bigger and nicer homes. If you are looking for a very family-oriented community with an excellent school system, Poway is a definite possibility.