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QUARTERLY UPDATE – July 2006
Mid-year Market Report
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Sales Year-to Date |
Current Inventory |
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Number of Sales |
Average Price (Median) |
Current Inventory |
Price Lowest |
Price Highest |
|
HOMES |
|
|
|
|
|
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Waterfront Homes |
11 |
$950,000 |
27 |
$279,000 |
$20,000,000 |
|
Marine View Homes |
18 |
$590,000 |
37 |
$349,500 |
$2.500,000 |
|
Inland Homes |
15 |
$420,000 |
25 |
$175,000 |
$1,225,000 |
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PROPERTY |
|
|
|
|
|
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Waterfront Prop. |
3 |
$419,000 |
18 |
$149,500 |
$2,450,000 |
|
Marine View Prop. |
18 |
$240,000 |
37 |
$155,000 |
$1,500,000 |
|
Inland Prop. |
11 |
$150,000 |
36 |
$149,500 |
$650,000 |
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OTHER |
|
|
|
|
|
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Condominiums |
4 |
$127,000 |
2 |
$225,000 |
$975,000 |
|
Commercial |
5 |
$915,000 |
10 |
$30,000 |
$1,750,000 |
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TOTALS |
85 |
|
171 |
|
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REFLECTIONS
Sales:
In 2004, there were 204 sales. In
2005, there were 225 sales. So far in 2006, (half a year), there
are only 85 sales. At the current rate (170 for the year), sales
for the year 2006 will be down 25%.
Inventory:
For more than 2 years, our inventory
has hovered around 125 listings. Today we have an inventory of 171,
an increase of 37%.
Prices:
Prices
are up. Median price for a marine view home has gone from $385,000
in 2004 to $590,000 today; for an inland home from $290,000 in 2004
to $420,000 today.
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