As the National Football League kicks off yet another exciting season, one of its most celebrated players is busy playing in the real estate field instead of on the football field. After 10 years of ownership, former Chargers running back LaDainian Tomlinson, has sold his exquisite San Diego pad in order to head back to his home state of Texas for retirement.
Tomlinson, who retired in 2012 after 11 electrifying seasons as a star running back, sold his home in the San Diego community of Poway for $3.495 million to Ray Lucia Jr., chief executive of San Diego-based RJL Wealth Management. The sale did not come easy, however, as Tomlinson originally listed the property in 2011, during his final season in the NFL when he was playing with the New York Jets. The property was listed then at $5.2 million, but after failing to attract the right buyer it was reduced to $3.75 million in 2013. The third time proved to be the charm as Tomlinson listed the property for the third, and final time, this summer for $3.495 million.
With a multitude of stunning amenities and luxurious features, it’s hard to imagine that this type of property had any trouble selling. The home is situated on 13 acres of property in San Diego, which Tomlinson parsed together in a series of purchases in 2004. The 9,610-square-foot home consists of five bedrooms and 5 1/2 bathrooms. Some of the finer points of the remarkable property include an expansive wine rack, a wall-sized fish tank, a basketball court, golf green and a lagoon-style pool with a rope bridge suspended over it.
San Diego Real Estate Market Update
With the sale of Tomlinson’s home, the San Diego housing market is seeing a much-needed boost that the market has needed to get properties moving after the season has been plagued with numerous starts and stops in home sales. According to Altos Research, a California-based real estate analytics company, home values have seen a slight increase in San Diego in the last few weeks as demand is recovering from a plummeting trend that had been occurring since early May.
As of August 29, the median single-family home value in San Diego has reached $643,919. Prices have remained relatively level for the last few weeks but the 7-day weighted average, which shows home prices in a more real-time trend, indicate a very recent spike upward. This uptick in home values might have to do with Tomlinson’s recent sale in the multi-million dollar range.
As prices continue their fluctuations, demand for homes is remaining constant and strong. Altos indicates buyer demand using a unique value known as the Market Action Index. From a neutral standpoint of 30, this value can indicate if trends are working their way up in favor of home sellers or down in favor of home buyers. With a recent uptick to 36.25, the San Diego real estate market is trending strongly in favor of home sellers as the amount of homes listed on the market is outnumbered by interested buyers.
If you are interested in learning more about San Diego homes for sale, please feel free to consult with our team of expert property agents today.