29
Jul

Davis Islands Homes Real Estate Snapshot – July

Davis Islands Single Family Home Sales

MARKET PRICE TREND: NEUTRAL

MARKET ACTIVITY TREND: UPTRENDING

 

From our analysis we believe the Davis Islands market is in an Activity status of UPTRENDING and a Price Status of NEUTRAL.  From a statistical standpoint we have seen the number of actual closings slightly decline over the last three months from the year’s high watermark in May of 7 properties (7- May, 5-June, 3 -July).  However, the number of properties Pending have increased steadily to 10 (10 – July, 5 – June, 2 – May).  Additionally, we are seeing a price floor in the mid to upper 200’s on the lower end and the mid to upper 500’s on average.  While we do not expect home sale prices to increase dramatically anytime soon we believe that an increase in sales and pending sale properties will continue to occur over the next two quarters.

On a national front the most recent Existing Home Sale numbers have shown a steady increase, this has been primarily in the lower end market, particularly those home eligible for FHA financing and the $8,000 first time home buyer credit.

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