Why will Coronado prices continue to rise or will they?

[eagleeye]

314 E just went pending! $1769000 asking price for a Billy Box in the 300 block!

856 E #2 just raised the asking price from $1050000 to $120000! And that’s for a back unit of a 2 on 1 split 3500 sq ft lot.

What is going on here?

Maybe prices aren’t coming down in Coronado afterall. We’re never going to get back in.

[PD]

Wait and see what they actually took for 314 E. I know someone who knows someone 🙂 who has had a billybox for sale for a looong time. It has taken so long that he had to put the house he is living in up for sale too. I’m wondering if he is trouble? They may have taken a lot less than 1769000. Further, 856 E might be thinking there is going to be a spring bounce.

[eagleeye]

314 E just closed for $1.5M. You were right PD. What do you think about 534 C? They’re asking $1.795M for 1920 sq ft. and it’s 9 years old. Nice location but ridiculous price.

[eagleeye]

Boy it sucks to be 312 E currently listed at $1.75M or 371 or 373 E both listed for $1.7M right now.

PD what would you pay for a Billy Box (excluding 100-300 blocks) now? How far do you think they’ll drop and over what timeframe?

314 E originally sold on 9/14/2004 for $1.4M. 312 E sold a month later for $1.425M. They are both the same sq footage.

Maybe there is hope for us yet!

[PD]

Sorry I didn’t respond sooner, eagleeye.
Here is an example of loss in Coronado:
17 Bahama Bend
7/29/05 $1,350,000
1/16/07 $1,200,000
I think they overpaid at 1.2 but I’ve been told that it is very nice inside.

This is going to be a loss for the purchaser:
940 E Ave #1
3/18/05 $1,200,000
It has been for sale for a long time and has had a bunch of price reductions. Now asking $1,250,000 – 1,299,000. They are going to have to reduce this further to move it. With selling and holding costs, they are underwater.

I was watching this house:
315 Alameda
They were asking $1,085,000. It just sold for $1,000,000. An even 1M for a 1,900 sq ft house on a 3k lot is certainly down from ’05, regardless of which street it is on.

Does anybody have recent sold/pending info for 92118?

[eagleeye]

I’ve been watching 534 C Ave. $1795000 for 1920 sq ft on a 3500 sq ft lot built in 1998…$935/sq ft…Ridiculous!!! Last sold in February 2002 for $899K.

[jb]

$3.9mil on Balboa? 7500 lot. It’s new construction, but still… What are they thinking?

jb

[(former)FormerSanDiegan]

Coronado has gone through a paradigm shift to a new normal and will experience a soft landing, since it is its own island.

[/sarcasm off]

[SHILOH]

DQNews reported that for Jan 07 Coronado prices were down 15.45% Ie, a home priced one year ago $1,375,000, sold for $1,162,500.

[SHILOH]

http://www.dqnews.com/ZIPCAR.shtm

CIty chart from DQNEWS

[eagleeye]

534 C just went pending…There are still crazy buyers out there. I’ll never get back in. This is very depressing.

[Anonymous]

Hope these numbers help.
92118 SF Ratio for today is 4.62. 111 actives and 24 pendings. 25 solds since 1/1/2007. The average sold is 4bed 2.86 bath at $2,102,190. 891 SP/SF. The average time on market is 74 days.

[Anonymous]

From 1/1/2006 to 12/31/2006 the average 3bed 2.82bath 2,350 sqft sold for $1,953,125. $837 SP/SF. 110 days on market.

One problem is 1021 Flora Ave,441 Ocean Blvd,320 7th,825 H Ave and 728 F Avenue do not have the sold price listed on the MLS.

[Anonymous]

534 C is pending. Off market date 3/07/2007.

[Anonymous]

856 E #1 is pending with a $1.4 asking price. 43 days on market. Maybe the seller recieved a good price and got greedy with #2. 106 days on the market.

[Author]

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