National Market Update
Bloomberg report looks favorable for continued improvement around the country for real estate values. Here on the South Beach activity in the mid-range properties ($150k to $250k) has increased noticeably. Lot pricing remains artificially depressed and represents the best investment opportunity.
March Statistics (National)
Another report of improving real estate markets around the country. Great information going into what looks to be an excellent Spring & Summer at the beach!
To read the article published from RIS Media CLICK HERE
South Beach Real Estate Update
2012 looks like the year things in the world of real estate start turning around. Here on the South Beach our limited supply puts us in a market that responds very quickly and dramatically to national trends. To review the freshest information on market trends around the country
On the South Beach, comparing 1 year residential sales from April 1st, 2010 to the end of March 2011 with April 1st, 2011 until end of March 2012 the following statistics confirm the national market trend:
South Beach Residential / Condominium Unit Sales:
20% Increase in Unit Sales Volume
15% Reduction in “Days on Market”
33% Reduction in “List Price / Sale Price” Ratio (10% to 7%)
8% Reduction in Average Sales Price
This last statistic is an important indicator that while prices dropped on the average from the previous years sales, the amount was not severe and coupled with all of the other indicators showing positive trends… to me verifies that values will continue to rise and our return to a stable market is well underway. Feel free to email or call to discuss these trends ro to schedule an appointment to look at available properties in our beautiful beach community.
Great News in getting the market back on track!
This report from DSNEWS is encouraging as it creates structure and a timeline in the short sale market that has prevented inventory from moving. This is a very positive sign for continuing improvement of market trends.
News on the Real Estate Front
More encouraging news from National Analysts. This is the year to go forward with buying plans. Why wait?
Encouraging News on the Real Estate Front
Todays article from DSNews spells out the turnaround in national real estate markets. We have already seen improvement in our miniscule beach market but nationally this is very good news. CLICK HERE
February MLS Stats paint favorable picture!
Northwest MLS members reported 3,846 closed sales last month, up about 25 percent from the year-ago total of 3,080 completed transactions. Selling prices continued to slip, but the decline was under 9 percent for the first time in nearly a year. The area-wide median price for last month’s closed sales of single family homes and condominiums (combined) was $218,944, down about 8.8 percent from the year-ago figure of $240,000.
Live @ the Beach
I ventured into the “big city” last week to meet with Windermere colleagues to review the real estate markets both national and regional as well as take advantage of the excellent educational offerings available during the Symposium. I chose to focus on “technology”… how to understand it, use it and make the most of it in the presentation and communication of real estae related information. After all, our small beach market is only 2 hours away from over 4 million people and few have direct knowledge of what our area offers. (few people will recall that I spent 17 days living in a car in the Alderwood Mall as part of Star 101.5′s “Live in it to Win it” contest with the motive of using all that free air time to get the word out about our beach in Westport. The Internet may be the key to finally succeeding!
The education was top notch. I learned so much about various aspects of the Internet it will probably take me the better part of this year to fully comprehend and implement what I learned (and by then the game will have changed again). As I spent more time with my Windermere brethren there in the heart of the Emerald City I gained an additional insight. I got to hear from people who spend their days and nights in King and Pierce Counties. People who experience the daily commute, the lines and the typical day to day pressures and pleasures of city life. As I was leaving Seattle headed toward the beach I realized that life at the beach is wonderful. Driving to work is a pleasure (all 8 minutes of it unless I stop to photograph some scenery or wildlife) and not having to “anticipate” the timing of leaving work for home so that I miss traffic or catch a ferry (I often time it to catch the sunset) is a wonderful thing.
With that in mind my application of what I learned will be to bring my daily routine at the beach into your day… share a picture or a video that will remind you that 2 hours from you is a place where you can truly find rest and relaxation. A place you can recharge your batteries. It’s easy to get to, easy to enjoy and a lot closer than you think. Thank you for letting me share my beach view with you. I look forward to sharing the beach itself with you soon when you find your way west… to Westport.
For a small sample of what it is like to “Live @ the Beach” CLICK HERE
Mike Coverdale
2011 – A look back
Although the year was a roller coaster as far as the economy goes… many areas saw improvement in the real estate sector. The South Beach is such an “intimate” market. It takes little activity to evoke a statistical response. The fact is that the proximity to nearly four million people makes our market very responsive… it’s just a matter of educating more of the residents in Western Wa that the South Beach has both a beautiful beach AND a quaint marina! (and that we are just 2 hours away).
For an overview of the real estate market and what Windermere has done over the past year in the communities we serve CLICK HERE and for a live demonstration of what the South Beach communities of Westport, Grayland, North Cove & Tokeland have to offer give me a call!
Mike Coverdale
Designated Broker
Windermere Westport
360-581-3399
www.westportmike.com
