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The Coronado real estate market, a small portion of the larger San Diego County housing market, continued to show a strong rally in the latest tracking period. According to a June 15, 2010 article in the San Diego Union-Tribune, “The California economy is headed for a two-track recovery, with San Diego and the coastal regions coming out of the recession far ahead of the rest of the state, according to a report released Monday by UCLA’s Anderson Forecast.” The piece, composed by Dean Calbreath, went on to state that “Overall, the state’s economy is already on the mend, the report said. The jobless rate – which averaged 12.6 percent during the first quarter – has most likely hit its peak and will decline steadily through at least early 2012, when it finally will drop below the 10 percent mark, the report said. Job growth – while anemic by historic standards – gradually will pick up steam until it finally reaches normalcy in mid-2011.”
The average median price of a Coronado home for sale increased substantially along the rest of the San Diego County housing market. According to a May 25, 2010 article from the Voice of San Diego, “There’s no doubt housing prices have come roaring back this year. New numbers released this morning showed San Diego County home prices rose again in March – marking the 11th straight month they’ve been headed up.” The piece by Kelly Bennett went on to note that “Local prices rose 10.8 percent between March last year and this March – when buyers scrambled into the market to take advantage of an expiring federal tax credit. That was the second largest increase in any of the 20 cities measured in the Standard & Poor’s Case-Shiller home price index, a closely watched indicator for the housing market.”
This same pattern in Coronado real estate was reflected in the larger Southern California region. According to a June 15, 2010 report from the Associated Press, “The median home price in Southern California last month rose 22.5 percent from a year earlier and topped $300,000 for the first time in 20 months, as sales continued shifting from low-priced inland areas to higher-end coastal regions, a tracking firm reported Tuesday.”
