Otis Reservoir Topics: Out of curiosity...
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Name:
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John C
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Subject:
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Out of curiosity...
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Date:
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4/30/2007 3:11:29 PM
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these figures are for the entire mls, water AND non-waterfront (I don't know how to seperate without going to a lot of trouble), not counting April 07, since it's not over and perhaps agents have not entered in data, looking at Jan - Mar 06 vs Jan - Mar 07, this year has 32 fewer properties sold (181 vs 149) for a 18% drop in things sold. But, $ volume of sales is up 7%, $38.2 million in 2006 vs $40.7 million in 1q07. I interepret that to mean that more waterfront properties make up the 2007 solds than those in 2006.
For people reading this, wondering how this affects his/her own property, I would say about as much as the DJIA's movement affects the price of IBM stock - a little but not much. I caution the application of market wide data to individual properties. It is much better to take them on a case by case basis and compare them to similar properties sold. For further caution on reading too much into market statistics, see my below link.
URL: Lake Martin Home Prices Not Affected By Sales Drop?
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