2011 Was a Good Year for Home Sales in the Coronado Cays

Twenty-four single family homes located in the Coronado Cays closed escrow from Jan. 1 to Dec. 31, 2011. This was the highest number of homes sold in one year since 2005 according to data compiled from SANDICOR.

According to the data from SANDICOR, 2011 also broke the record for highest sales price per square foot since 2008. 3 Sandpiper Strand, Coronado Cays brought $805.73 per square foot, with only 12 days on market. 

In 2011, the average days on market were 120 days.

It is worth noting that four homes sold on Trinidad Bend during 2011. 102 Trinidad Bend sold for $430.13 per square foot, which was the highest sold price per square foot on the street. This home only spent 28 days on the market.

Fifteen “attached” homes located in the Coronado Cays closed escrow from Jan. 1 to Dec. 31, 2011. This was the highest number of homes sold in one year since 2007 according to SANDICOR. 

On May 19, 2011, 11 Catspaw Cape closed escrow bringing $618.37 per square foot. This price per square foot was the highest since 2008 when 35 Catspaw Cape sold for $711.31 per square foot. 

Other homes on Catspaw Cape didn’t fair quite as well. Its neighbor, 17 Catspaw Cape sold for $365.85 per square foot and 20 Catspaw Cape (an off water home) sold for $291.67 a square foot.  This was the lowest price per square foot that sold in 2011.

Antigua Village makes for an interesting case study. Unfortunately, 41 Antigua Court was foreclosed upon. The bank brought it back to market and sold it for $349.46 per square foot. When this happened it made it difficult for the traditional sellers of Antigua. 

The seller of 13 Antigua Court received five offers on the property. Unfortunately the potential buyers were basing their purchase price on the price per square foot of the bank-owned property. After 347 days on the market and six offers, 13 Antigua Court sold for $400.63 per square foot.  The average price for all of the 15 attached homes sold was $424.01.

Although no seller likes to reduce the list price of their home, it is imperative if you want to get your home sold. Listing your home high and waiting for an offer is detrimental.  If you’ve paid close attention to the homes that have sold in the Cays, you will know that several of the overpriced listings forced the seller a year or so later into a short sale or worse yet, a foreclosure.

If you are interested in learning more about the Coronado Real Estate market, please call me directly or visit www.coronado.org

Expect More Than A Home.....Create A Lifestyle In Coronado!®
Gerri-Lynn Fives, ABR, CIPS, CNE, CRS, GRI, RSPS, TRC
REALTOR® / Broker Associate
Prudential California Realty – Coronado
(619) 813-7193 Direct
DRE# 01274657
JustGL@CoronadoCays.com
www.CoronadoCays.com®