Coronado Real Estate

Coronado Cays Open House 

Presented By Gerri-Lynn Fives - Prudential California Realty

Selling Coronado Shores

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 condo’s 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 of the market being 81.  In 2005 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 thousand to eleven hundred dollars per square foot range.  The number of days on the market has increased by 56% 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!

For more information or if you are interested in buying or selling in the Coronado Shores, I am your local real estate expert. I limit the number of people that I work with so that I can concentrate on giving you the service you need and deserve. Please consider my dedication to the profession with over 12 years of experience, my seven NAR designations and my drive to serve my clients the next time you need a REALTOR®.

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@CoronadoBeach.com

www.SellingCoronadoShores.com

THE RESULTS ARE IN…….

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 January 1, 2011 to December 31, 2011. This was the highest number of homes sold in one year since 2005 according to data compiled from ©SANDICOR. According to data gathered from ©SANDICOR, 2011 also broke the record for highest sales price per square foot since 2008.  Gerri-Lynn Fives, a Broker Associate with Prudential California Realty in the Coronado Cays has the honor of being the listing agent for 3 Sandpiper Strand, Coronado Cays, which 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, which was also listed by Gerri-Lynn Fives, sold for $430.13 per square foot, which was the highest sold price per square foot on Trinidad Bend. This home only spent 28 days on the market.

Fifteen “attached” homes located in the Coronado Cays closed escrow from January 1, 2011 to December 31, 2011. This was the highest number of homes sold in one year since 2007 according to data compiled from ©SANDICOR.  On May 19, 2011 Gerri-Lynn Fives closed escrow on 11 Catspaw Cape, 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 by the bank. 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 sale sellers of Antigua.  Gerri-Lynn Fives was the listing agent for 13 Antigua Court.  Gerri-Lynn reports having received 5 offers on the property with everyone basing their purchase price on the price per square foot of the bank owned property.  After 347 days on the market and six offers later, Gerri-Lynn sold 13 Antigua Court for $400.63 per square foot.  The average price for all of the 15 attached homes sold was $424.01.

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