Active
Volume:14 (+17%)
Low: $2,850,000 (-23%)
High: $14,995,000 (0)
Average: $6,667,500 (-9.7%)
Median: $5,247,000 (-13%)
Under Contract
Volume: 1 (-50%)
Low: $5,995,000 (0)
High: $5,995,000 (-14%)
Average: $5,995,000 (-7.7%)
Median: $5,995,000 (-7.7%)
Pending
Volume: 1 (100%)
Low: $6,995,000 (100%)
High: $6,995,000 (100%)
Average: $6,995,000 (100%)
Median: $6,995,000 (100%)
Sold (last 30 days)
Volume: 1 (-67%)
Low: $5,625,000 (+73%)
High: $5,625,000 (0)
Average: $5,625,000 (-33%)
Median: $5,625,000 (+46%)
Average % Difference between List Price and Purchase Price: -6.2% (+16%)
I'm by no means surprised by these numbers. We have increasing inventory. Decreasing prices. Decreasing sales. I would even go so far as to indicate that the property that just moved into pending is a smoking deal for what it is. I actually saw it on broker preview several weeks ago and another agent and myself both agreed that it is one of the better oceanfronts we have seen.
This market is demonstrating the uneasiness of consumers. Not to make anything overly political, but in the most recent debate, Donald Trump was bellyaching over the slow economic growth out of the recession. I understand and appreciate everyone's eagerness to have a thriving economy, but how can you ask for more security than a STABLE, slow growing, predictable economy? That's what we've had. There is so much power in predictability. It's nothing more than a simple conditional: if I do this, then that will happen. It's when we're unsure what to expect that we don't make any large financial moves and contribute to a stagnant economy, i.e. the little bit of time leading up to an election year.
This begs the question, what should I do during times of instability? I might argue to be as aggressive as possible and score an incredible deal on a spectacular oceanfront property. Otherwise, I'd say hang tight. It gets old to be the shoulda, coulda, woulda types though.
Volume:14 (+17%)
Low: $2,850,000 (-23%)
High: $14,995,000 (0)
Average: $6,667,500 (-9.7%)
Median: $5,247,000 (-13%)
Under Contract
Volume: 1 (-50%)
Low: $5,995,000 (0)
High: $5,995,000 (-14%)
Average: $5,995,000 (-7.7%)
Median: $5,995,000 (-7.7%)
Pending
Volume: 1 (100%)
Low: $6,995,000 (100%)
High: $6,995,000 (100%)
Average: $6,995,000 (100%)
Median: $6,995,000 (100%)
Sold (last 30 days)
Volume: 1 (-67%)
Low: $5,625,000 (+73%)
High: $5,625,000 (0)
Average: $5,625,000 (-33%)
Median: $5,625,000 (+46%)
Average % Difference between List Price and Purchase Price: -6.2% (+16%)
I'm by no means surprised by these numbers. We have increasing inventory. Decreasing prices. Decreasing sales. I would even go so far as to indicate that the property that just moved into pending is a smoking deal for what it is. I actually saw it on broker preview several weeks ago and another agent and myself both agreed that it is one of the better oceanfronts we have seen.
This market is demonstrating the uneasiness of consumers. Not to make anything overly political, but in the most recent debate, Donald Trump was bellyaching over the slow economic growth out of the recession. I understand and appreciate everyone's eagerness to have a thriving economy, but how can you ask for more security than a STABLE, slow growing, predictable economy? That's what we've had. There is so much power in predictability. It's nothing more than a simple conditional: if I do this, then that will happen. It's when we're unsure what to expect that we don't make any large financial moves and contribute to a stagnant economy, i.e. the little bit of time leading up to an election year.
This begs the question, what should I do during times of instability? I might argue to be as aggressive as possible and score an incredible deal on a spectacular oceanfront property. Otherwise, I'd say hang tight. It gets old to be the shoulda, coulda, woulda types though.
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