This answers “How is the Market?”
Welcome to the Coronado Market update corner. Yes… It is still a seller’s market. We begin the month of March with the same rhetoric of the last couple of months, and what it seems now the last couple of years… The inventory is low and our market is still insanely hot. The Southern California housing market has continued to grow hotter despite a slight increase in interest rates, especially the interest rates applicable to investment properties. Although interest rates don’t tend to have much effect on our local market.
California Regional Multiple Listing Service market reports demonstrate that February had an increase in properties listed for sale in the city of Coronado since last month. We currently have 15 Single family homes (SFH) for sale and 15 condominiums; 16 single family homes and 14 condos are currently in escrow. A total of 22 properties sold in February; 12 single family homes, 6 condos and 2 townhomes. Current supply and demand levels show no sign of prices changing from their current trend.
The median List Price for single family homes is currently $3,997,500 and $2,240,000 for condos; and although the median list price has increased these properties are selling at record times.
Is Coronado a good place to invest in real estate? Coronado has always had great demand for housing, not only from local families looking to move closer to the beach but also from a myriad of buyers with different goals. Coronado Shores Co. can provide you with all the details you need to analyze your investment. From detailed market reports on a specific property to rental projections, we are here to help you make informed decisions on your valuable real estate assets.
Broker associate at Coronado Shores Co.
To view Coronado homes for sale, for rent or for property management services, please visit Coronado Shores Co.