Over the last few weeks, my office has experienced offers and even multiple offers on properties at levels we have not experienced in a very long time. It feels as though interest has turned into action for many buyers, particularly with higher priced properties.
Data for the market as a whole supports what we have experienced. So far this April, the number of new contracts on single family homes is up 36% over the same time period last year, with 15 new contracts versus 11 last year. New contracts on condo/townhomes are down from 18 month-to-date in 2013 to just 8 so far this month. However, the average list price for condo/townhomes under contract is up 30% with an average list price of $691,000 month-to-date versus $592,000 for the same time period in 2013.
We are seeing greater interest in higher-priced properties of all types. A total of 8 properties listed over $1 million have gone under contract so far this month versus just 1 property over $1 million for the same time period in 2013.
If you are considering the purchase of a new home at the beach, my office is highly trained in handling the myriad of details that come along with the purchase. We look forward to helping you find your dream home in time to enjoy the upcoming summer season at the beach!
I hope that you had a wonderful holiday weekend,
Leslie Kopp