The Coronado Ranch Real Estate Market Report for October 2024

Hey Coronado Ranch! Halloween has passed, the temperatures are down and it seems as if all the snowbirds have made their migration to the beautiful southeast valley. 

Months of Supply of Inventory

Months Supply of Inventory, which is currently sitting at 3.56 months, showed a very modest rise. This means that if no new homes were to come on the market, it would take about 3.32 months to sell all the existing homes.

The inventory rose slightly this month; however, it hasn't made up for the losses in the previous months. This is a good thing 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 - October saw a more normal pace of 38.5 days on market. While this statistic did increase significantly, this is a rather normal pace for the time it takes to sell a home. Similar to last month, demand remains high and a solid pricing strategy are both key to for sellers in this market.

List to Sold Price Percentage

The List to Sold Price Percentage of 95.16% dropped a mere 4.55% from last month. Homes are selling very close to their listing prices. Buyer's demand continues to be strong when Seller's are competitive with their asking prices.

Median Sold Price

Lastly, we have the Median Sold Price, which stands at $697,500. This gives us a snapshot of the price of homes that are selling in this market. This number has seen a modest increase of 1.82% over the last month. As predicted last month, homes in Coronado Ranch continue to appreciate at a pedestrian rate. Any increase is a good increase, right?

Coronado Ranch Real Estate Market Summary

So, what does all of this mean to you?

Overall, these metrics suggest 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 even when most markets are moving toward balanced and buyer's markets. 

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