The February 2014 statistics reflect year-to-date (YTD) residential sales remain steady but condominium and vacant land sales are both up when compared with 2013.
Island wide residential sales are down just slightly YTD by 3.77% compared with 2013. There have been 51 residential sales compared with 53 last year. Sales volume shows a slight increase of 1.58% with $37,806,500 in sales compared with $37,218,148 last year. The median sales price also shows a slight increase, 2.04%, to $499,000 compared with $489,000 in 2013.
Island wide condominium sales are up 54.29% YTD compared to 2013. There have been 54 condos sales compared with 35 in 2013. The sales volume for condos also increased. There were approx. $21.5m in sales compared with approx. $14.9m in sales so far this year; an increase of just over 44%. The median sales price for condos increased to $320,000 from $240,000 in 2013; a 33.33% increase.
Island wide vacant land sales are up quite a bit YTD with 40 land parcels sold so far this year compared to 19 at the same time last year; an increase of 110.53%. YTD sales volume for vacant land shows a very slight increase of 0.72%. There have been $21,446,399 in sales compared with $14,866,143 last year. The median sales price has decreased 18% from $375,000 to $307,500.
Market Statistics by Area
The above summary is a look at the market statistics year to date, island wide. If you’d like to know how the market performed in a specific area of the island just let me know. I’d be happy to speak with you or email you a summary.
Properties in Escrow
There are currently 119 residential properties in escrow of which 31 were new escrows opened in February. There are 59 condominiums in escrow (30 escrows opened in February), and there are 42 land parcels in escrow (10 escrows opened in February).
There are currently 375 active residential listings, 275 condominium listings, and 222 land listings.