Posted by: projectnado | March 25, 2009

Coronado Cays Home Sales Turn Positive in 2009

Gondola - Familiar Scene in Coronado Cays

Familiar Scene in Coronado Cays

Compared to somewhat disappointing home sales in 2008, the YTD results for home sales in the Coronado Cays are definately positive. In fact, there’s every indication that 2009 Sales will be significantly higher than 2008 sales.

Here’s an excerpt from my Coronado Cays & Beyond Report distributed to select Coronado Cays residents:

 Coronado Cays Market Report
by Heidi White, Realtor
3/17/2009

YTD SALES of real estate in the Coronado Cays still anemic compared to total inventory, (43 homes as of 3/17)  but there are significant signs that the market is picking up.   In the first 2 1/2 months of 2009, only six homes sold in the Coronado Cays and each of these homes were in the sub one million dollar category.  Of the 43 homes currently active, a majority of these active properties are above the one million dollar price point.

Still, a sales boost in entry level priced homes is often the first signal that the market is turning around as they are often the first place we see an increase in activity when buyers start to return to the market in any quantity.

CORONADO CAYS—SOLDS (YTD: 1-1-2009 thru 3-17-2009)

1)    15 Gingertree      Sold Price    $595,000
2)   80 Antigua           Sold Price    $650,000  
3)   92 Kingston         Sold Price    $710,000
4)     7 Kingston         Sold Price    $935,000
5)   31 Delaport         Sold Price    $775,000
6)   57 Trinidad          Sold Price    $950,000

What really shows potential for a strong 2009 is the current pending inventory.  There are currently 8 homes  pending status. 

If all of these homes were to close escrow before the end of March, our total home sales for Q1’09 in the Coronado Cays would be at 14.

 When one realizes that the total home sales for the Coronado Cays during the entire year of 2009 was only 22 homes, our potential first quarter results actually look very promising.

Note also, that several of these pending properties are at the higher end of our market. Presuming these all close and more follow over the next few months, increased traction with high end homes could be another signal of a more viable housing recovery, then if only entry level homes were selling.
 

NOW may actually be the Best Time to Buy In Coronado – and not just another Realtor slogan. Especially if you believe prices will go up if sales go up. This may be your last chance in this century to buy a dream home in Coronado at a discount. Heidi White

CORONADO CAYS—PENDINGS (as of 3-17-2009*)

1)   52 Antigua                        Listed at         $895,000
2)   36 Catspaw Cape             Listed at         $887,900
3)   13 Blue Anchor Cay          Listed at      $3,265,000
4)   17 Buccaneer Way           Listed at      $2,750,000
5)   3 Port Royale                    Listed at       $1,175,000
6)   70 Kingston                      Listed at          $725,000
7)   17 Tunapuna Ln               Listed at      $1,275,000
8 )   41 Saint Christophers      Listed at          $783,900

*Pending properties may not close. Listing price and actual sold price may differ. 
C Be sure to check my next Coronado Cays & Beyond report to find out actual sold prices and the latest Cays Real Estate Market news.  

 Search www.searchcoronadohomes.com to see what’s on the market.

Heidi White, Realtor
619 933-4741

heidifwhite@gmail.com

 

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