Waterfront Real Estate Update - December 2010
By Admin
Prowse and Company’s December Waterfront Update is out - see the graphs and download the latest newsletter and stats.
November waterfront home closed sales more than doubled from October. With the large month-to-month oscillations in our closed sales numbers, it’s hard to tell how we’re doing overall. 2010 closed waterfront sales are up 8% from a year ago. Interest rates have jumped more than .5% in November, so affordability has dropped somewhat, though it’s still very good.
November’s waterfront listing inventory continues to drop after peaking in June, tracking close to the same as we’ve seen the past 2 years. The inventory turnover rate has improved from 37 months to a 15 months, still pretty slow. November closed sales were up 120% from October. There were 16 pending sales. Only the most competitively priced homes are selling.
Download the December Waterfront Newsletter here.
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