December Market Update

Since November 1st, there have been 52 properties in Avalon and Stone Harbor (all types) reported as under contract or sold in our Multiple Listing Service.  This increase in activity is encouraging.  A common link is price reductions by the seller.  The buyers are focused on value and the current inventory provides the opportunity to be selective.  If an asking price is higher than the competition, the buyer assumes the seller is not ready to sell.  Overall, prices have decreased 12% to 15% (from the peak in 2005), and are comparable to sale prices in 2004.    

 

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