YTD and July vs July sales comparison

As I have reported in previous posts, sales for 2011 are up over the same period 2010, and this trend is continuing.

 

YTD sales for single family homes are up 23%, from 349 sales in 2010 to 430 in 2011. Comparing July 2010 to July 2011, there were 58 sales of single family homes in 2010 and 67 sales in 2011, or an increase of over 15%. YTD average sold price comparison is up 4.2%, from $852,820 in 2010 to $888,601 in 2011. July to July comparison is more dramatic. Average sold price increased 32.4% from $688,534 in 2010 to $911,958 in 2011. New listings of single family homes continues to decline, from 219 new listings in July 2010 to 165 new listings in July 2011 or a decrease of 24.7%

 

Condo sales continue this trend with number of sales YTD up 10.6% from 293 sales in 2010 to 324 in 2011. but average sold price continued to decline 32% from $943,085 to $640,026 in 2011. Number of listings YTD is continuing to decline as well, from 757 in 2010 to 623 in 2011 or down 17.7% Looking at July vs July condo sales, number of sales is up 34.6% from 26 in 2010 to 35 in 2011, average sold price declined 59% from $817,942 in 2010 to $335,287 in 2011 and number of listings in down 18% from 94 new condo listings in 2010 to 77 in 2011.

 

So, what does all this mean? Buyers are here and they are buying. However, buyers are very price sensitive and are only looking for what they perceive to be deals.
With inventory continuing to decline, the better properties are going away and are not being replaced as quickly as they are being purchased. This equates to the right time to buy. Still low prices, a dwindling inventory and low interest rates. Resort Real Estate has always been popular and now it appears that buyers are back in the market.