Coronado Real Estate

According to Stephen Leatherman, aka “Dr. Beach,” there are approximately 650 major public recreational beaches in the United States. Only one, though, can be No. 1. What strand of sand earns that designation? This year, the honor goes to Coronado Beach near San Diego, which tops Leatherman’s 2012 annual list of the Top 10 Beaches in the country. Released on Friday, the full list includes:

1. Coronado Beach, Coronado, Calif.
2. Kahanamoku Beach, Oahu, Hawaii
3. Main Beach, East Hampton, N.Y.
4. St. George Island State Park, St. George Island, Fla.
5. Hamoa Beach, Maui, Hawaii
6. Coast Guard Beach, Eastham, Mass.
7. Waimanolo Bay Beach Park, Oahu, Hawaii
8. Cape Florida State Park, Key Biscayne, Fla.
9. Beachwalker Park, Kiawah Island, S.C.
10. Cape Hatteras, Outer Banks, N.C.

On the other hand, Hamoa Beach made the list after falling off it last year due to access restrictions implemented by an adjacent hotel. With those restrictions relaxed, the secluded beach outside Hana made a two-year jump from No. 9 to No. 5.

The results, she said, included an 18.2 percent increase in revenue per available hotel room (revPAR, as it’s called, a standard lodging-industry metric), a nine-month increase in visitor spending of 17.5 percent over the same period a year earlier and a 647 percent increase in visits to the CVB’s website.

Selling Coronado Shores

After pouring over data since 2004, one would wonder whether or not the Coronado Shores escaped unscathed by the economic crisis.  Life appeared to be good for sellers in the Coronado Shores in 2004 and 2005!  A total of 65 condo’s sold in 2004 with 85 days being the average days on market and the average sales price per square foot was $924.76.  In 2005, 55 condos were sold, with an average number of days of the market being 81.  In 2005 the average price per square foot was $1,082.02.  That same year the Coronado Shores broke their own record of highest price per square foot when 1760 Avenida Del Mundo #1105 sold in 40 days for $4,200,000, holding the record for having the highest price per square foot sold (since 2004) at $2,100/square foot. 

What I know for sure is that the number of units sold has dropped to about half since 2004 and the number of days on the market has increased.  However, the average price per square foot in 2011 was $978.40.  When you look at the average price per square foot in 2004 it was $924.76.  Could it be that the Coronado Shores has had a correction and that we are back to a normal market?  For six years the average price per square foot hovered above the thousand to eleven hundred dollars per square foot range.  The number of days on the market has increased by 56% since 2006.  In 2006 the average days on the market were 77, whereas in 2011 the average was 137 days on the market.

If you are a seller, the moral of the story is that is it going to take longer to sell your home.  If you are a buyer, you will have less inventory too choose from.  In my opinion, it is still a good time to buy and sell real estate in the Coronado Shores because it meets the basic rule in real estate; location, location, location!

For more information or if you are interested in buying or selling in the Coronado Shores, I am your local real estate expert. I limit the number of people that I work with so that I can concentrate on giving you the service you need and deserve. Please consider my dedication to the profession with over 12 years of experience, my seven NAR designations and my drive to serve my clients the next time you need a REALTOR®.

Expect More Than A Home…..Create A Lifestyle In Coronado!®

Gerri-Lynn Fives, ABR, CIPS, CNE, CRS, GRI, RSPS, TRC

REALTOR® / Broker Associate

Prudential California Realty – Coronado

(619) 813-7193 Direct

DRE# 01274657

JustGL@CoronadoBeach.com

www.SellingCoronadoShores.com