Coronado Market Update

Sales Activity: Over the past month, the total number of closed sales in 2010 rose from 4 to 15, an increase of 11 sales. The number of homes in escrow as of February 15, 2010 increased from 18 to 24. When factoring in the 11 properties which closed escrow since January 15, 2010 there were 17 net new escrows opened this past month.

Inventory Levels: The number of homes listed for sale has continued to decrease over the past four months, dipping from 184 to 181. The current listing inventory equates right at a 12-month supply. While down slightly from the previous month, Coronado continues to have the second highest level of inventory when compared to other San Diego luxury home communities.

Conclusion: There continues to be a wide variety of homes that buyers can choose from. Sellers willing to become more competitive with their pricing still have an opportunity to entice the right buyer. Buyers have teh opportunity to purchase a home with the advantage of the competitive environment. This remains a great time to buy luxury real estate.