Coronado Shores Market Update

After pouring over data since 2004, one would wonder whether or not the Coronado Shores escaped unscathed by the economic crisis. 

Life appeared to be good for sellers in the Coronado Shores in 2004 and 2005!  A total of 65 condos sold in 2004 with 85 days being the average days on market and the average sales price per square foot was $924.76. 

In 2005, 55 condos were sold, with an average number of days on the market being 81. The average price per square foot was $1,082.02.  That same year the Coronado Shores broke their own record of highest price per square foot when 1760 Avenida Del Mundo #1105 sold in 40 days for $4,200,000, holding the record for having the highest price per square foot sold (since 2004) at $2,100/square foot. 

What I know for sure is that the number of units sold has dropped to about half since 2004 and the number of days on the market has increased.  However, the average price per square foot in 2011 was $978.40.  When you look at the average price per square foot in 2004 it was $924.76. 

Could it be that the Coronado Shores has had a correction and that we are back to a normal market?  For six years the average price per square foot hovered above the $1,000-1,100 per square foot range. 

The number of days on the market has increased by 56 percent since 2006.  In 2006 the average days on the market were 77, whereas in 2011 the average was 137 days on the market.

If you are a seller, the moral of the story is that is it going to take longer to sell your home. If you are a buyer, you will have less inventory too choose from.  In my opinion, it is still a good time to buy and sell real estate in the Coronado Shores because it meets the basic rule in real estate: location, location, location!

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

www.SellingCoronadoShores.com

(619) 813-7193 Direct
DRE# 01274657