Property showings have been picking up as the nice weather arrived. The Active stats are as follows: 165 Single Fam w/av price of $744,270, median price 649,000 & av days on the market 365. For the Condo’s there are 44 with av price of $392,320, median price of $344,250 & av days on market at 321. As for lots, there are 77 with av price of $335,319, median price of $275,000 and av days on market of 481. Comparing these 4/1 Active prices to Jan 1st /10 ‘Realty Yours’ newsletter (& end of Year summary), it shows the SingleFam Av prices DOWN about $45,000, Condos DOWN $16,000 & Lots DOWN $9,000 As for 1st quarter to 1st quarter of 2010 to 2010 SOLD, things a looking better with 8 SingleFam Sold this yr vs only 4 last year, 1 Condo vs 0 last year, & 2 lots Sold this year vs 0 for last year.
There are 5 pending Under Contract (not final price yet)-including 1 Lot @-4 Kingfisher for $73,000 to settle 5/1, 1 Condo @ 107 Capt John Fripp to settle 4/1 @ $459,000 and 3 singlefam: 32 Sea Mist at $575,000 to settle 4/2; 83 Ocean Creek to settle 5/14 & orig priced at $849,000 reduced to $599,999 & settling according to the grape vine in the lower $4’s and 734 Seahorse Rd to settle 4/30-orig at $1,240,000 and reduced to $699,000 setttling for ?
As for the SOLD in March-there were 7 Single Family, 0 Condos & 0 Lots.
%ratio Sold Pr Ask Pr Orig Pr Address View YrBlt SqFt $SqFt DaysMkt Settled
85 $360,000 $425,000 $425,000 406 Porpoise Pond/Lake 1977 2035 $176,90 206 3/15/10
100 400,000 400,000 400.000 40 Davis Love Golf 1999 1306 $306.28 41 3/26/10
61 425,000 475,000 699,000 603 Dolphin Rd Ocean Vw 1977 1544 275.25 534 3/1/10
87 520,000 595,000 595,000 397 Wahoo Dr Golf 2002 3057 170.10 321 3/5/10
65 582,500 599,000 898,000 66 Davis Love Marsh 2001 2362 246.61 1231 3/15/10
100 700,000 700,000 700,000 54 Davis Love Marsh 2008 2450 285.71 25 3/26/10
80 765,000 875,000 950,000 39 Veranda Bch Ocean Vw 1999 1608 475.75 619 3/26/10
Two of the above – w/100% ratio- had NO DESCRIPTION in the MLS-leading you to believe that they were sold before being entered into the computer & 2 were really BAD ratios at 61% and 65%. However, the encouraging news is that the number of sales for the quarter (Jan-March) are up from sales of the same time last year in all categories. In the next letter we need to cover quite a bit about what’s happening with the mortgage situation----incl negative home equity, the housing market, the loan modification programs, the jumbo market starting to thaw !(good), the supply of foreclosed homes, the local Bft/HHI sales trend, the modifications on second mortgages, the Fannie & Freddie risk taking, short sales, etc. Stay well, Rita & Chuck
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