Current Inventory Analysis & Year to Date Comparisons
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NEWS FLASH! 10.8% YOY AVG PRICING INCREASE IN ISLAND SING FAM PRICES
Sales volume up 53%YOY Inventory lowest since we've been collecting this data since January 2007
BARRIER ISLAND Jan-August 2011 Average sale price:
Southern Island $927,519
Central Island $731,049
North Island/Incl. IR Shores $708,398
Northern Island Past SR 512 Incl Windsor $1,209,038
Pls note these are MLS sales only; there are always non-MLS sales (eg: Two larger sales of ours this month both private sales)
MONTHLY SALES STATISTICS
2011 SALES/INVENTORY Barrier Island
SING FAMS JAN FEB MAR Apr May June July Aug Sept
Inventory 544 519 503 482 484 502 463
Contract wConditions 55 58 44 38 27 34 34
Sales Pending 24 17 19 13 4 3 5
Sales 22 23 31 45 42 37 22 24 22
Mos Inventory 11.5 12 13 22 21 21
Avg Days on Market 174 191
Avg List to Sell Ratio % 89 90
CONDOS
Inventory 401 382 368 350 347 340 332
Contract wConditions 33 30 20 17 12 19 17
Sales Pending 12 6 4 3 0 0 2
Sales 17 12 24 27 28 15 9 18 9
Mos Inventory 14 13 23 39 19 37
Avgs Days on Market 206 183
Avg List to Sell Ratio % 92 92
Year over Year Jan to Aug 31 Barrier island Sing Fams
Area Avg Price 2010 Sales Avg Price 2011 +/- Sales Volume +/-
11 $585,135 46 $ 731,049 +24.9% 77 +109%
12 1,127,267 45 927,519 -17.7% 68 + 24%
13 643,189 45 708,398 + 10.2% 37 +62%
14 1,245,094 16 1,228,655 -6.5% 22 +38%
Observations: Sales volume up significantly, much of new move in ready product priced to sell gone, inventory scant.
Pricing up with certain larger communities of older product pulling down values in area 12 and newer communities pulling up values in area 14.
Pendings appear weaker than mid year; June 1; data for summer mos should indicate whether recovery is steady or in modest upticks and downturns.
Note: Months of inventory supply determined by dividing number of previous month sales by current inventory; increase or decreases in sales, new or expired listings would change sales volume and subsequent number months of inventory available
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