Welcome to San Diego Blog | February 28, 2013
Coronado Cays Home Sales
San Diego County’s only residential marina neighborhood, the Coronado Cays is a lovely, beach community of beautiful waterfront homes, condos, townhomes, and off-water single family homes with strong recent sales activity. Sales in “the Cays” are up 23% in 2012 over the previous year. And, 2013 is looking promising as well as inventory tightens with 40 of approximately 1,200 homes currently for sale in different price ranges.
Home Sales ~ Coronado Cays
With an average of 4 sales per month, the Cays has approximately 10 months of inventory, a metric that translates into a “buyers” market. In the $1,000,000 and-under price range, however, the inventory consists of only 9 active listings, and 4.5 months of inventory left for sale, giving sellers the advantage. If you’re looking under $1 million in price, you may want to prepare with a strong offer as competition heats up for buyers at this level. Just for comparison’s sake, six months of inventory is the typical measure of a “balanced” market where neither buyers nor sellers have a strategic advantage. Last year the Cays had an equal number of sales above and below $1 million.
The Cays are truly one-of-a-kind: a resort-like neighborhood in the exclusive city of Coronado, situated on a narrow peninsula between the Pacific Ocean and San Diego Bay. Individuals and families alike love living in the Cays because of its tranquil environment, lush landscape, and colorful gardens, set away from the hustle and bustle of the city life within walking distance of a beautiful beach and the nearby Loews Coronado Bay Resort. Cays residents have at their front door a variety of water sports and outdoor activities like sailing, fishing, kayaking, surfing, kite surfing, jet skiing, water skiing, paddle boarding, lighted tennis courts, a large public park and much more.
In the Cays, one can easily fill entire weekends with bike rides along Silver Strand State Beach (underground tunnels connect the ocean to the bay), picnics at Cays Park, enjoying a cup of coffee at Calypso Cafe while gazing upon passing sailboats, playing tennis, soccer, or basketball at local courts, jogging on designated paths or bayside nature trails, or walking the family dog to an off-leash dog park. And, if you’re a boating enthusiast, many homes have private boat slips in their backyard that accommodate vessels ranging from small sailboats to large ocean-going yachts!