31
Aug

Davis Islands Real Estate Activity August YTD

OVERALL MARKET OUTLOOK: CAUTIOUSLY UPTRENDING

  • DAYS ON MARKET TREND: DOWNTRENDING
  • MARKET PRICE TREND: NEUTRAL
  • MARKET ACTIVITY TREND: UPTRENDING

From our analysis we believe the Davis Islands Real Estate Market Outlook is CAUTIOUSLY UPTRENDING.  There are three trend areas we analyze to help determine market outlook (Days on Market Trend, Market Price Trend and Market Activity Trend).  The Days on Market (DOM) average for all Davis Islands real estate price categories was 181 days, this is even with July’s number of 180, and well off the highs of the year at over 300.  The second trend of Sold Market Price came in for August at an average sales price of $565,500 which was down from $814,000 the prior month and well off the highs from the first quarter of 2009.  The final trend was Market Activity.  There are currently 78 active properties on the market which slightly higher than July  and significantly higher than the active listings in the first quarter.  At the same time the number of pending and solds came in at 11 and 6 respectively, which was higher than last month’s numbers of 10 and 3.  On a side note we have continued to notice more short sale properties entering the market.  This will most likely have a negative impact on price, while at the same time allowing for potentially more sales.  Davis Islands Real Estate Activity Details

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