Residential

It does appear that the bottom was in 2009 for this period and the market is on the upswing!

Comparing the sales volume for this period (May through July) for the past two years, the 2010 figures are nearly identical to the 2008 numbers:

· 11% discount from list price

· Total market volume in the $17 million (2010) to $18 million (2008) range

· Average days on the market of 9 months

· Total of 36 home sales, an average of 12 per month The 2009 figures differ for the May through July period:

· 9% discount from list price

· Total market volume of only $7 million; less than 50% of the preceding and following years.

· Average days on the market of 8 months

· Total of 21 homes sales, an average of 7 per month

Condominium

The condominium market is showing slight improvement, but still has a long way to go.

Comparing the May through July period to the past two years, 2010 showed improvement over the 2009 numbers, but is only about 60% of the 2008 figures in terms of number of units sold and market total dollar volume.

Average days on the market continue to increase for condominiums for this period, from 7 months in 2008, to 8 months in 2009, to 11 months in 2010. The discount from list price was 10% for this period in 2010, 16% in 2009, and only 8% in 2008; this would indicate that prices are stabilizing.

Land

Sales volume continues to decrease for the period of May through July, compared to the previous two years.

· 2008 – 81 lots sold, total market volume of $18 million

· 2009 – 33 lots sold, total market volume of $3 million

· 2010 – 24 lots sold, total market volume of $2 million

Looking for positive indicators, the discount rate has shown a positive trend over the past 2 years for this period, as has the average days on the market:

· 2008, 13% discount from list price, average days on market (DOM) of 9 months

· 2009, 14% discount from list price, average DOM of 9 months

· 2010, 12% discount form list price, average DOM of 8 months

Prepared by:

Julie San Martin

Team Manager

Team San Martin

340-773-1048 / sold@teamsanmartin.com

www.teamsanmartin.com

*This information is deemed reliable, but it is not guaranteed