THE RESULTS ARE IN…….
2011 was a good year for home sales in the Coronado Cays!
Twenty-four single family homes located in the Coronado Cays closed escrow from January 1, 2011 to December 31, 2011. This was the highest number of homes sold in one year since 2005 according to data compiled from ©SANDICOR. According to data gathered from ©SANDICOR, 2011 also broke the record for highest sales price per square foot since 2008. Gerri-Lynn Fives, a Broker Associate with Prudential California Realty in the Coronado Cays has the honor of being the listing agent for 3 Sandpiper Strand, Coronado Cays, which brought $805.73 per square foot, with only 12 days on market. In 2011, the average days on market were 120 days.
It is worth noting that four homes sold on Trinidad Bend during 2011. 102 Trinidad Bend, which was also listed by Gerri-Lynn Fives, sold for $430.13 per square foot, which was the highest sold price per square foot on Trinidad Bend. This home only spent 28 days on the market.
Fifteen “attached” homes located in the Coronado Cays closed escrow from January 1, 2011 to December 31, 2011. This was the highest number of homes sold in one year since 2007 according to data compiled from ©SANDICOR. On May 19, 2011 Gerri-Lynn Fives closed escrow on 11 Catspaw Cape, bringing $618.37 per square foot. This price per square foot was the highest since 2008 when 35 Catspaw Cape sold for $711.31 per square foot. Other homes on Catspaw Cape didn’t fair quite as well. Its neighbor, 17 Catspaw Cape sold for $365.85 per square foot and 20 Catspaw Cape (an off water home) sold for $291.67 a square foot. This was the lowest price per square foot that sold in 2011.
Antigua Village makes for an interesting case study. Unfortunately, 41 Antigua Court was foreclosed upon by the bank. The bank brought it back to market and sold it for $349.46 per square foot. When this happened it made it difficult for the traditional sale sellers of Antigua. Gerri-Lynn Fives was the listing agent for 13 Antigua Court. Gerri-Lynn reports having received 5 offers on the property with everyone basing their purchase price on the price per square foot of the bank owned property. After 347 days on the market and six offers later, Gerri-Lynn sold 13 Antigua Court for $400.63 per square foot. The average price for all of the 15 attached homes sold was $424.01.
Interestingly, Gerri-Lynn Fives was not the first listing agent for 3 Sandpiper Strand or 11 Catspaw Cape. Gerri-Lynn listed both properties after they had been on the market for over a year with other agents. The first thing that Gerri-Lynn did to market the properties was to price them according to the current market condition. Although no seller likes to reduce the list price of their home, it is imperative if you want to get your home sold. Listing your home high and waiting for an offer is detrimental. If you’ve paid close attention to the homes that have sold in the Coronado Cays, you will know that many of the overpriced listings forced the seller a year or so later into a Short Sale or worse yet a Foreclosure.
For more information or if you are interested in buying Coronado real estate and touring Coronado homes for sale, 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@CoronadoCays.com
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