JUNE 2009 REMAINS HISTORICAL LOW AT NURMI ISLES

During the past eighteen months, each of the 12 properties in Nurmi Isles sold above the June 2009 historical low of $9,205/Waterfront Foot ($782,400 closed sale price).  Not including the July 2009 sale ($59,375/WFft and $5,937,500 closed sale price), the remaining 11 sales averaged $17,433/WFft and $1,957,273 closed sale price.  Prior to the July 2009 sale, the five-year historical high occurred in March 2007 ($53,529/WFft and $4,550,000 closed sale price).  While September's two sales were relatively weak (average $12,541/WFft and $1,160,000 closed sale price), November's sale was stronger than the 18-month averages ($22,222/WFft and $2,000,000).  During the past six months, discounts have ranged between 10 and 23 percent.  One sale is pending ($14,950/WFft and $1,495,950 last list price).  Of the 17 current listings, seven are priced under market.  Market activity has picked up during the past six months with 11 new listings and six closed sales.  Get the details at...  http://www.coastcountiesrealty.com/Reports/NI1.htm