Contributing Content Writer:
Horace Chavez DRE#01259508 | May 12, 2023
Single Family Detached Homes:
While the data demonstrates that the Coronado real estate market is very stable Month-over-Month, Coronado’s demand, lack of new inventory and increased days on the market only reinforces this stability. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues for this one-of-a-kind city. Even though medium pricing went down, this only means new inventory introduced to the market was less expensive. Medium days on the market went from 21 days at the end of April to 35 days by May 22nd. Not a major data point until we see it pass the 50-day mark.
The sweet spot for single family homes is $3,650,000, an average of 2,700 square feet, 5 bedroom and 3.5 baths which is the fastest selling segment with an average of 7 days on the market.
The condo market paints a little bit of a different picture. Medium days on the market at the end of April was 28 days while on May 22nd we are looking at 42 days. The increase is the same, but the condo market is considered an entry level market for Coronado where you would expect a much faster sale and inching towards the 50-day mark may signal a shift. If the market cools and this trend persist, then we would likely begin to see a downward pressure on price.
The sweet spot for the condo market is a 1 bedroom 1 bath condo for about $1,400,000 with an average market time of 14 days.
About the contributing writer: Horace Chavez is Broker Associate with Coronado Shores Company as part of the sales team for ‘The Shores Group’ Real Estate Advisors. Licensed since 1999, “I recognize every buyer and seller have their own unique needs and goals. My experience and resources have allowed me to provide a high level of service to all my clients.” Areas of service include Homes Sales & Marketing, Buyer Representation, Investment Properties & Property Management. Also Certified as a Probate & Trust Specialist.
Contact Horace Chavez at 619-992-7001 | email: [email protected]
DISCLAIMER: This content is for informational and entertainment purposes only. The contents shared is deemed to be reliable and gathered from different sources including the perspective of the author. It is not meant for or intended to provide or replace any type of legal, tax, financial, or accounting professional or personal advice or service. It is highly advised that the reader seek their own professional advisor or counsel concerning their specific individual needs or circumstances before making any decisions or conclusions. Always review and know your options before making any decisions.
To view Coronado homes for sale or rent, for property management services, HOA management, or vacation rentals, please visit Coronado Shores Co.