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 August 21, 2008

Coronado Real Estate Update
As with most of the real estate market, the numbers of homes sold in Coronado are down from a year ago. But unlike La Jolla, the prices are down as well. Last year, the number of homes sold were approximately seventeen for a month, whereas now, we are just a little over ten sold for the month, with February and March being the lowest in years, dropping to less than five homes sold in each of those months.
The average price of a home in Coronado has fallen from an average of around 2.5 million dollars, a year ago, down to less than 1.7 million dollars. The median price of a home in Coronado has dropped very little hovering around 1.5 million dollars.

The condo market in Coronado has dropped in sales, but jumped in average and median prices. A year ago, there were about twelve to thirteen condos being sold in a month and now, although the trend seems to be on its way up, just under ten sold in a month.

The average price for a condo in Coronado was less than 1.3 million dollars a year ago and now after falling to its lowest average in January (less than a million dollars), the average price has consistently risen and now is averaging around 1.6 million dollars. The same goes for the median price, which for the most part mimics the average price.

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