Welcome to the Coronado Market Update Corner.
The median list price for Coronado, CA 92118 is $3,850,000 with the market action index hovering around 46. This is less than last month’s market action index of 53. Inventory has increased to 23 listings.
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall.
We had 17 new homes listed for sale in the Month of June in Coronado 92118 zip code; we currently have 55 homes for sale, 27 of those are single family detached homes and 28 are condos or townhomes. This is a considerable increase giving that in the months of March we only had five new listings, and April only added three new ones. Fifteen homes went into contract in June, seven of which were single family homes. When we look at the closed sales, we observed a 50% reduction in the month of June compared to June of 2021.
Coronado had 23 closed sales in June of 2022, 10 were single family homes compared to 42 closed sales in June 2021. This is an important reduction of sales that will continue as the market slows down.
With the increase in new listings and the decrease of sold properties we foresee a longer marketing period for new listing which will get us closer to a balanced market.
If you are curious about the Coronado Real Estate market and would like more information, feel free to call Raquel Fernandez at 619-453-4513 or via email [email protected]. Always available to help you and your family or friends. También hablamos su idioma.