It looks to me like prices are falling. However, I’m not looking at anything over 1.5M. Perhaps the higher priced properties are rising. With such a wide range of prices (850,000 to 16M), you can’t rely on the median.
MLS 060065973 sold last year for 1,050,000 and was recently listed at 999K. It has gone inactive so I guess it is in escrow.
I’m seeing lots of reductions and only the best priced properties are selling fast. There seems to be a disconnect with some sellers. There are a couple of townhomes in the village that are for sale where the seller bought last year and is trying to break even. They are never going to do it as there are a couple of comparable SF homes for similar prices. It certainly looks to me like some billy boxes have gone from 1,750,000 to about 1,300,000.
I know someone who has had their Cays off-water home for sale off and on for a year. It is never going to sell until they lower their price (they had it in escrow last spring but the buyer couldn’t sell their home).
I think Coronado will be one of the last places to really see a big reduction but I think it is coming. I know you are only interested in the village but Cays home prices affect village prices.
Have these realtors provided all comps to you? I would ask to see them as far back as spring 2005 (there aren’t that many homes). That is the only way to get to the truth. I think they are just putting the hard sell on you because they need to pay the bills.
In the last downturn, even the best areas got hurt. Coronado is no different.
