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.
