Contributing Content Writer: Horace Chavez DRE#01259508 | September 25, 2023
In today’s market we continue to see demand exceed the supply of homes available. Altos Research uses a tool to show us the direction in which the market is heading. This “Market Action Index” is a graph that shows us if we are leaning towards a Buyer’s Market or a Seller’s Market. It compares the rate of sales versus the inventory through a 90-day average.
The Coronado market continues to get hotter. More on the condo side than in detached single family residences. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels are strong and stubborn and show no sign of prices changing from their current trend. The Market Action Index has been moving higher for several weeks. This is a clear sign of a Seller’s market so watch for continued upward pricing pressure in the near future if the trend continues.
The condo Market Action Index showing a very strong Seller’s Market. Previous data shows that the condo market was very balanced, even reaching the low 20’s, from October 2018 until about March 2021. Since then, the market has remained in the Seller’s favor with a peak of 65 in April of 2022.
Single Family Homes were in the Buyer’s Market territory from October 2018 to about July 10, 2022. Almost a year longer than the condo market. The market took a shift in mid-July of 2022 and has not looked back since. The Market Action Index showed a peak of 59.8 on March 11, 2022.
The Coronado market is only going to get more expensive if these trends continue. Unaffected by the outside market and economic impacts, we can see that the Coronado market is a market on its own island. (Pun intended)
If you need a home evaluation and want to see where your home could sell for, need a property manager for a long term or vacation type rental, call me and I can get you on the right track.
About the contributing writer: Horace Chavez is Broker Associate with ‘The Shores Group’ Real Estate Advisors and 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 consist of Sales, 1031 Exchanges, Buyer Representation, Transaction and Property Management. Investment properties and Second homes have been a good part of our buyer community. Also Certified as a Probate & Trust Specialist.
Contact Horace Chavez at 619-992-7001 or 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.