Your calculation of an 18 month supply of homes on the market in Coronado is not accurate right now. It’s true that the last month has been very slow for SFR sales in Coronado, with I believe only about 4 closed sales.
There are currently 133 SFRs listed there, (33 are $3 million plus). But there are 18 in escrow right now – all under $3,000,0000. There have been 60 sales in the last 6 months, and 114 sales in the last 12 months. So the average is about 10 sales per month – a 13 month supply.
The $3M+ market is really not selling well at all – 33 active listings, 6 sales in the last 6 months, and 9 sales in the past year. But even when the market was great, there were always a lot of high-end homes on the market there.
If you take the high-end listings out of the equation, there is about a 10 month supply on the market, but there is a surprisingly large number in escrow right now.
