In one year from May 2009 to May 2010 single family sales rose 21%, but what is even more astonishing is the condominium sales have increased by 113%.
In just a monthâ€™s time from April 2010 to May 2010 the total number of sales for both single family homes and condominiums rose from 42 to 64 which is a total increase of 35%. The 2009-2010 year to date figures show single family home sales increased from 93 to 157 a 68% market increase and condominiums sales increased from 59 to 131 for a 122% market increase. In comparison to our boom times during 2004 and 2005 where in just the month of May 2005 alone, a total of 114 properties sold. We are still approximately 50% off where we would hope to be, but the numbers are showing that we could be recovering.
May 2009 to May 2010 % Increase
Residential = 21.43%
Vacant Land = 500.00%
Commercial = 0.00%
Condominium = 113.33%
Business = 0.00%
I get many calls and inquiries from mainland buyers asking is now the time to jump on the band wagon and buy while prices are still low and I always say that if I had the crystal ball to see when the bottom is over Iâ€™d be even more of a successful Realtor than I am now, but unfortunately I canâ€™t answer that question. I do know that I can say there are some phenomenal deals out there to be made and if youâ€™ve been on the fence to purchase, now would be the time to hop over that fence.