Updates on Current Market Conditions, Bainbridge Island as of June 8th, 2010
Year to Date, the Syvertsen/Mortell Business Partnership has closed 17 (Covering 19 Sides) properties, with an additional 3 homes currently pending sale.
Breaking News as of June 10th: There are now 232 residential units on the market.
RESIDENTIAL
Today there are 225 residential units on the market. As of May 3rd we had 211 residential units on the market up from 198 on March 28th and 154 on January 23rd. There were 215 on November 19th and 232 on October 14th. As of August 9th, 2009, there were 264 residential units on the market.
Closed Sales YTD have increased by 6% over the same period in 2009.
Values have depreciated by approximately 4% to 5% for 2010
SOLD HOMES (Closed Sales):
2010 to date: 115 sold Sold for Same Period 2009: 72 There are 47 pending home sales
2009 212 sold giving us an 8.7% increase in residenital sales over 2008, while values depreciated 13%.
2008: 186 sold
2007: 331 sold
2006: 350 sold
2005: 442 sold
2004: 467 sold
2003: 453 sold
Closed Sales Since January 1st, 2010
100K to 249K 3
250K to 400K: 22
401K to 500K: 18
501K to 600K: 21
601K to 700K: 11
701K to 800K: 15
801K to 900K: 8
901K to 1 Mil: 1
1.0 to 1.5 Mil: 13
1.5 and Above: 4
CONDOMINIUMS
To Date, we have seen 22 (5 of which were sold by the Syvertsen/Mortell Partnership) condos close. 55 sold in 2009; an extremely difficult year, with 44 sold for the same period in 2008: 133 sales in 2007 and 155 sales in 2006. We have only 72 condos on the market, which is down from the peak of 114 in 2009
The Big Condo news is that Madrone Village has seen seven sales since last July, including all of the Penthouses, leaving only 7 new luxury condos on the market.
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1 comments:
It will be interesting to see if Congress pushes back the deadline on the homebuyer tax credit to Sept. 30 and what impact that will have on inventory.
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