2010 Compared to 2009
by Owen Properties
The numbers below are instructive, showing average sales price up and
price per square foot relatively flat. What this difference reflects is that
more high end homes have sold this year, pushing up the average sales
prices, but that actual prices this year have been closer to flat than rising.
Sellers of high end homes, priced $4 million and higher, finally took their
lumps, cut deals and sold.
Transaction volume is sharply up. In most categories in Coronado,
inventory levels are normal. So if national influences like interest rates and
the economy hold constant, there is a chance of a price per square foot
increase during the high season next spring and summer.
Those trends reflect the broader 92118 zip code. The reality within the
various sub-markets, such as the beach zone between 10th Street and the
ocean, or sub-categories, such as new construction, can be sharply
different. Please contact us to discuss your area of interest.
AVERAGE SALES PRICE
AVERAGE SOLD PRICE PER SQUARE FOOT
DAYS ON MARKET
NUMBER OF SALES
BY THE BEACH: HOMES/CONDOS FROM 10TH TO OCEAN BLVD.
Half Yearly Report : 2010
by Owen Properties
Coronado Market Analysis
JAN 2010 - JUN 2010
The data below is positive, consistent with the trend in most markets. Much of the positive reflects not rising prices but a broader mix of homes sold, as finally there have been several high-end sales near the ocean and bay.
If you are looking at $1.5 million and below in the Village detached category, you find yourself in fierce competition.
If you are looking in the Village between $2 and $4 million, you will find yourself awash in opportunities. Take advantage of it. What we saw with Tony Falletta homes is instructive. His front homes in the good old days sold for $1.35 to $1.525 million. Because of the downturn, six or seven were for sale at once, and suffered sale prices of $950,000 to $1.1 million. The supply was exhausted, and the most recent sale prices have popped back over $1.3 million. All that occurred over a matter of months, not years.
Buy low and sell high. We have the market knowledge and experience to get you there. To discuss the best buy opportunities on the market today in Coronado, please contact your Owen Properties' real estate specialist.
Tom Owen (619) 972-6936 tom@owenproperties.com
Mary Jo Morgan (619) 435-9188 maryjo@owenproperties.com
Edith Zamora (619) 905-5780 edith@owenproperties.com
Please click here to view the most recent Coronado real estate statistics. Best wishes this summer from Owen Properties!
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2009 Annual Report
by Owen Properties
2009 Performance... and what lies ahead
2009 marked a market divided. The Coronado low end (which is high end in most parts of the country!) showed a spike in sales, while our Coronado higher declined.
Coronado’s overall transaction volume jumped 13%, and the Village detached category jumped 33%.
What lies ahead at the highest end? Right now, there are 15 active listings in 92118 priced at $5 million or more. Over the last decade there were 16 Coronado sales at $5 million or more. So our highest end sellers have a challenge.
At the lower end, the most attractive inventory has been gobbled up, particularly when you get to $1 million and below. By historical standards, the current inventory level is low. Expect stiff buyer competition in 2010 for homes beneath $1.5 million.
A closing thought: Our quarterly and annual reports focus on statistics. Remember, though, that real estate isn’t just about making money. A home is where you live and spend most of your time with your friends and family. Make sure your home is a place you love.
