Monday, June 9, 2014

Summer Has Arrived

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)
# Residential
       Sales               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 Residential Specialist®,
Certified Luxury Home Marketing Specialist®
Accredited Buyers Agent®

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