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July 2014 Monthly Update

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July 8, 2014
The 4th of July was “washed out” this year by Hurricane Arthur…although by the time the storm arrived it had lost most of its punch. Most events were postponed until Saturday the 5th and the weather cooperated this time with low humidity and wonderful blue skies. I hope you enjoyed a safe, glorious Holiday weekend. Please remember those who are overseas protecting our freedoms.


Now to the real estate matters at hand:
The island real estate market, although slowing a bit in June, is continuing the good steady pace we discussed the past few months:
Month/Year               June/2014        May/2014      June/2013      2014(YTD)      2013(YTD)
# Residential Sales         23                   35                    35                  173                162
Average Price             $913K             $859K              $983K              $967K           $898K
Median Price              $586K              $628K              $540K             $590K           $550K
Avg. Days on Market    259                  249                  283                 238               323

The data statistics this month show a decrease in the number of sales, an increase in the average price and a slight decrease in the median price. The June sales (numbers and values) are also slightly down compared to June 2013. The YTD numbers (a better indicator of the health of the market) are all indicating a slight increase in the market! And “average days on market” is significantly down.

The month of June was, as expected, a fairly slow month for buyers looking at property. July has exploded as many buyers are here and looking to purchase. I expect July and August will be very busy.


The island is full of activity and busier now (July) than in recent years past. I hope this flurry of activity brings a buyer for your property.


Please let me know any questions or thoughts you might have.
Thank you for your trust and patience in what I do. All the best.
Doug Reece
Certified Residential Specialist®,
Certified Luxury Home Marketing Specialist®
Accredited Buyers Agent®