Monday, August 03, 2009

Eastham's July Sales - Improved!

Eastham signIs it the beginning of a turn-around? The number of sales in July improved to double-digits (just barely) to 10. The average sale price was roughly $420K, up from June's $353K. The sales ranged from a ranch in need to lots of TLC at $190K to a pondfront beauty at $1.2M.

Unfortunately, the real story is not in the details, but in the aggregate and the medians. Year-to-date 2009 has had 40 sales, vs 55 for 2008 (down 27%), the median sales price is $353K vs $450K for 2008 (down 22%). The truth behind the numbers is that the market is so strangely skewed toward the low end that none of these numbers have any significant meaning. Yet.

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