Some of my clients have been asking me lately how the market is doing, is it getting better?, are prices coming down?, and there any buyers in the market place? So I thought I would put together a report which should give you a current snapshot of the real estate market. The information below shows you how many single family homes and condos have sold since January 1, 2009 to November 3, 2009. It also breaks it down to price range, Average DOM (days on market), median price, average price, high price, low price and total dollar volume. With single family homes you can tell quickly that buyers are picking up the least expensive properties with 11 of 21 sales being under 600K, about half of these sales being either bank owned or short sale transactions. On the condo side of things it’s a little more spread out. The sold listing for condos will more than double by year end, due to the recent auction at The Sanctuary development.
See link (PDF) for sales in October for single family homes and this link (PDF) for condo sales, with only one sale in each category you can tell we are moving into the slow season for market activity. Again, the amount of condos sold will increase in coming months from the auction. I hope this helps in understanding the current real estate market in Sandbridge, and as always if you have any questions do not hesitate to call or email.
Aloha,
Pat