The Coronado Ranch Real Estate Market Report for September 2024
Hello Coronado Ranch! October is upon us and the cool mornings are giving us a little taste of the beautiful months ahead. Our community is waving goodbye to summer and hello to fall. Speaking of falling, that's exactly what happened in our market, but the indicators that fell were not the prices.
Months of Supply of Inventory
This was the first statistic to fall! Months Supply of Inventory, which is currently sitting at 3.32 months. 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 fell sharply by 26.22% this month. 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 was the next statistic to fall. September saw homes flying off the market in 18 days! 28% faster than the previous month. This reminds us that homes are selling quickly in this market. Demand remains high and a solid pricing strategy are both key to selling your home quicky.
List to Sold Price Percentage
The List to Sold Price Percentage climbed to 99.7% (up 1.25% from August) indicating that homes are selling very close to their listing prices. Buyer's still want to live in our great community and as long as Seller's continue to be competitive with their asking prices, this metric will remain strong.
Median Sold Price
Lastly, we have the Median Sold Price, which stands at $685,000. This gives us a snapshot of the price of homes that are selling in this market. This number has seen a modest increase of 3.79% over the last month. Home prices in Coronado Ranch continued their upward trajectory through the summer and the expectation is that a continued pedestrian increase will continue.
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. With low inventory, quick sales, and homes selling close to their asking prices, you could potentially have a successful selling experience. So if you're thinking about putting your home on the market, now might be a great time to do so!
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