The Coronado Ranch Real Estate Market Report for November 2024
Hello my fellow Coronado Ranchians...Ranchhands...Rancheros...let's just call each other neighbors! The turkey hangover is real and the hunt for that perfect Christmas gift is well underway. The lights are strung, the decorations are up, and our neighborhood is looking as festive as Ol' St. Nick.
As we take our monthly look at real estate, let's strive to remember that we get precious few opportunities to say hello to new neighbors and bid farewell to old friends.
Months of Supply of Inventory
Months Supply of Inventory, which is currently residing at 2.15 months, is a significant drop from the prior month as two of the more "seasoned" homes in our community have sold. This means that if no new homes were to come on the market, it would take about 2.15 months to sell all the existing homes.
The inventory declined slightly this month. This is a positive sign for those looking to sell, as there are few choices for new buyers' looking to make the move.
Median Days on Market
Median Days Homes are On the Market - November saw 31.5 days on the market, which was a slight decline due to two of our more seasoned homes moving to sold. While this statistic did decrease slightly, this remains a good pace for the time it takes to sell a home. Similar to previous months, buyer demand remains high in our neighborhood
List to Sold Price Percentage
The List to Sold Price Percentage of 98.92% increased slightly from last month. Homes are selling very close to their listing prices. Buyer's demand continues to be strong when sellers are competitive with their asking prices.
Median Sold Price
Lastly, we have the Median Sold Price, which stands at $712,125. This gives us a snapshot of the price of homes that are selling in this market. This number has seen a modest increase of 0.66% over the last month. As expected, homes in Coronado Ranch continue to enjoy modest levels of appreciation.
Coronado Ranch Real Estate Market Summary
So, what does all of this mean to you?
Overall, the data tells us that it's a good time to be a seller in Coronado Ranch. Steady buyer demand, low inventory, quick sales, and homes selling close to their asking prices all combine to paint the picture of a seller's market. While many areas have seen movement toward a buyer's market, our neighborhood continues to show it's market strength, desireability, and appreciation in value. It's a great time to own in Coronado Ranch!
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