Real estate update 8/13/06

There appears to be some pricing weakness in homes.  The average price of a home listed for sale has dropped 16% since July 4th, from $1.9 million to $1.6 million.  Now it could be that just one high-priced property was taken off the market, but the numbers are the numbers.  The median price of a listed home barely slipped, from $2.2 million to$2.16 million.

Who realized there are 17 condo projects on island?  Holiday Homes has developed a map that shows them.  It’s on the Web  at http://www.holidayhomesvi.com/condos_location.php

Here’s the latest from the Multiple Listing Service.

  • Houses:  109 (down 4 from 7/20)
  • Commercial:  23 (unchanged from 7/20)
  • Condos:  40 (unchanged from 7/20)
  • Land lots:  259 (up 11 from 7/20)

Galleria del Ma
r is among the businesses listed for sale.  The seven-year-old art gallery at Wharfside is priced at $160,000


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