18 months SFH inventory in Coronado

[PD]

I have noticed that for sale signs dot just about every street in Coronado. There are six for sale on my small street alone. I checked some numbers and was surprised at the results.

7 SFH sold in July
126 Currently for sale
18 Months Inventory

5 Condos sold in July
98 Currently for sale
19.6 Months Inventory

Does anyone know the historic numbers for Coronado?
What is the inventory in your area?

[ocrenter]

Rancho Bernardo

74 SFR sold in July
511 SFR currently for sale
6.9 months of inventory

41 condos sold in July
324 condos currently for sale
7.9 months of inventory

San Marcos

46 SFR sold in July
553 SFR currently for sale
12.0 months of inventory

17 condos sold in July
226 condos currently for sale
13.3 months of inventory

[PD]

July sales can be found here:
http://www.dqnews.com/ZIPSDUT.shtm

[lindismith]

Thanks for the link, PD. So how do you calculate the months worth of inventory?

And just to verify, the %change is yoy, right?

What’s interesting is that N.county coastal is the only area with a postive gain.

[PD]

I divided the current number of units for sale by the number of July sales.

[PD]

I talked to a Coronado realtor today. I asked him if he thought a downturn was ahead. He tried to tell me that buying in Coronado was a safe bet but he also said many other things that led to me beleive that he thinks RE is going down. However, it was counterproductive for him to say so because he was trying to make a sale. He tried to dismiss bad press as a bunch of “Blah, blah, blah.” He did allow that waiting to buy wasn’t going hurt me (read – prices aren’t going up anytime soon). I asked him about Coronado inventory. He tried to downplay it but did admit that it is about double the average inventory. I’m wondering if it worse than that. He claimed the huge inventory was the result of a lot of people just testing the waters. I also asked him what happened to Coronado prices during the last downturn but he avoided answering. He seemed like a nice guy who doesn’t want to lie about a downturn but is also trying to keep the fear from spreading.

[Author]

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