Latest Coronado Area Real Estate Stats Are Great News For Sellers
We've just taken a look at the latest Coronado area real estate statistics (for September) and thought we'd share the highlights with you in today's blog.
The main headline is that they make good reading for anyone currently listing, or contemplating doing so in the near future.
Key stats (single family homes):
- Pending sales rose by 38.5% compared with a year ago. They also demonstrated a 23.8% rise for the year to date.
- Closed sales were 47.1% up on the same period in 2019 and 13.9% up for the year so far.
- Median sales price demonstrated a 4.3% rise on September 2019 and an 8% increase between January and September.
- Percentage of original price received was up by 2.6% on the same month last year, with an improvement of 1.6% for year to date.
- Average days on market until sale decreased by 3.1 compared with last September and by an even more impressive 12.7% in the calendar year up to the end of September.
- Inventory of available homes for sale in the area dropped by 47.7% year-on-year.
- Months supply of inventory has fallen by 56.1% in the past year and currently stands at just 2.9 months.
In the case of townhouses and condos, trends were broadly similar, with a few notable exceptions such as an 89.2% year-on-year increase in median sales price (10.7% for year to date). Click this link if you'd like to read the full area statistics provided by Greater San Diego Association of REALTORS®.
There are some really positive takeways for sellers:
- The number of pending and closed sales in the area are rising very healthily.
- Better returns through increasing prices.
- Falling inventory means less competition and more robust asking prices.
A growing number of new listings also suggests that more sellers are acknowledging the current opportunities. But the number of new market entrants isn't making up for the amount of homes being sold and the progressive fall in inventory.
As we have been saying for a few weeks now, there is every reason to believe that this fall is going to be an exceptional time to sell your home.
Why not contact us at 619-886-0175 today and discuss the many possibilities in the very favorable current market conditions.