And just
like that...summer has arrived on the island in time for the High School
graduation ceremony. The graduation takes place at the Tabernacle
in Oak Bluffs on Sunday June 8th and is preceded on Friday night
with a presentation of scholarship money to many of the island “soon to be”
college students. I mention this since I
am a proud father of a graduating senior and looking forward to a very busy
weekend. Now to the real estate matters
at hand:
The real
estate market is continuing at a good steady pace and here are the recent sales
numbers:
Month/Year May/2014 April/2014 May/2013 2014(YTD) 2013(YTD)
#
ResidentialSales 35 26 36 149 127
Average
Price $859K $905K $837K $979K $876K
Median
Price
$628K $705K $556K $580K $556K
Avg. Days
on Market 249 327
365 238 333
Again,
the data statistics this month show that the slow continued growth is
continuing, as expected. The month over
month number of sales are up 35% but are equal to the number of sales in May
2013(one year ago). The average price is down compared to last month but up
from a year ago and the median price is the same, down from last month but up
from a year ago. The average days on market are also down. The YTD numbers are all indicating a slight
increase in the market…and any increase is good!
The
month of June is, historically, a slow month when it comes to people viewing property for sale. June is a busy month for graduation, spring
youth sports and working in the yard after a long winter and even longer
spring. I expect July and August will
pick up substantially.
Please
let me know any questions or thoughts you might have.
Thank
you for your trust and patience in what I do.
All the best.
Doug
Reece Certified Luxury Home Marketing Specialist®
Accredited Buyers Agent®
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