Coronado Village Market Statistics for 1st 6 Months of 2011

Coronado is geographically and mentally divided into three separate areas.  There is the Coronado Village, Coronado Shores and Coronado Cays.  Generally people purchasing in Coronado are very specific about what they want.  Coronado Village owners and potential buyers love the small town Mayberry feel the Coronado Village offers.  

Even though the Coronado Village seems like a small town, it is comprised of very sophisticated owners who know what they want and have the money to pay for what they want.  Here is a simple representation of Coronado sales for the first six months of 2011.  Sometimes graphs are easier to understand than an excel file of numbers.

Based on the most current Sandicor Multiple Listing numbers, there is an approximate 37% sell rate in the Coronado Village.  What this means to a seller is that you have a little over 1/3 of a chance to sell your home in the Village.  The unusual thing about Coronado sales is that not all sales are reported to the MLS, and some of the MLS sales have a "nondisclosure deed" and do not have their sale price disclosed. More affluent areas tend to have owners who crave privacy, and although nondisclosure deeds are not in the majority, we do see sales that do not have reported prices.

Compared to other parts of San Diego County, Coronado has a relatively small number of contingent sales.  A contingent sale is a short sale that is awaiting bank approval.  Some short sales close.  Some short sales become foreclosures because the banks are too inflexible.

As you can see from this graph, there is over 57% of active inventory compared to pendings (in escrow listings) and closed sales.  A really simple method to check out months of inventory is to divide the current inventory by the number of average sales per month. If you use that math, you have approximately 11 Village homes sold a month for the first 6 months of 2011.  Using current Coronado Village inventory of 87 listings, there is approximately 8 months of inventory available in the Village.

This is a series of article by Sharyn and Victoria Crown, San Diego real estate agents and brokers.