Just a quick update for the beach market. Single family listings are up both beach and inland. Single family sales are down compared to July ( this is pretty much normal for this time of year ) Condo listings are down. Condo sales are down 15 compared to July , again this is usual.
This is important, Single family median price is down a whopping 20% from a year ago. Condos not as bad at 13.1%
The condo market is still taking a hit and absorption rate is still around 23 months. What does that mean?? Price your condo aggressively or you will sit on it for a long time.
The the recent bailout, we should see some improvement on ability to secure loans, refi and this should begin to finally move us out of this horrible market.
The key is, make your place available on a moments notice and price it correctly.
I welcome your comments , questions regarding real estate, insurance and finance.
Steve
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