For September 2010

Single Family Homes

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.

Condos

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.