Average Sales Price (Homes) for August 2010: $192,693
This is down 15% from the same month 2009.
Average Sales Price for 2010 YTD: $227,107
This is up 3% over 2009.
Unit sales are up 7% over last year.
Average Sales Price (Condos) for August 2010: $142,085
This is down 34% from the same month 2009.
Average Sales Price for 2010 YTD: $156,925
This is down 21% from 2009.
Unit sales are up 23% over last year.
*Some things I left out on the video: As far as stabilization I am speaking of single-family homes only. There is stabilization in the condo market in a community-by-community basis, or in certain types of condo, but it is not wide spread yet. Prices are down in condos partly because of oversupply, but also because there has been extensive buying in the lower price ranges from investors and bargain hunters (the lower priced condos are a larger percentage of unit sales than normal, driving the overall average sales price lower). The upshot? Expect prices to stablize and rise for condos in the lower price points as the inventory dwindles. For condos in the higher ranges, typically the beach condos, we have to look at it on a unit-by-unit basis to see if the sales price range is stable or potentially declining. Call me if you want to know more at (904) 825-0099.
Market recap from St. Augustine Team Realty's Broker and Manager, Sean Hess.
Copywrite 2001 - 2012 St. Augustine Team Realty. Website Design by Wild Roses. Blue "SA" on Yellow Oval Field Tradmarks of St. Augustine Team Realty. St. Augustine Team Realty is a licensed Florida real estate brokerage. St. Augustine Team Realty supports Equal Housing Opportunity.