The summer of 2011 saw a pickup in sales compared to the spring which started out a bit slow. Fall sales continued to be good during September with a typical slowdown as we began getting closer to the holidays.
What has been interesting to see is the increase in the number of seller subsidies provided to buyers as an incentive to purchase their homes. This was not something we saw when we had a seller's market but is certainly apparent as we continue to have a buyer's market. However, buyers need to be mindful that subsidies are one of the items that are negotiable depending on the condition of the property and/or the sale price.
In August we had five water access homes sold and eight waterfront homes.
October saw a higher number of water access homes selling with 10 sold compared to five waterfront.
This was an indication of buyers looking for less expensive homes.
October continued along the same vein with four water access homes selling and only two waterfront houses.
I was actually surprised to see that only six homes sold in October. As two of them were sales that I was involved in I had no idea that there would not be many more.
It will be interesting to see how sales in November compare to October. It would be great if they are higher. Even though this is the last day of the month, any settlements today may not get posted for another day or two and I will be doing a market report for November soon.
©Copyright Kate Elim 2011
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