Update on real estate

The inventory of homes for sale on the island is steady at about 120 units, down from the some 140 we had a few months ago.  But there does seem to be some softness.

The average asking price is now $2.01 million, which is down 10% from July’s $2.2 million.  The median price of $1.4 million is the same as it was three months ago.

Checking the Multiple Listing Service, there have been relatively few new houses put on the market in the past several weeks.  Steady as she goes, I guess is the path right now. We’ll be looking for the third quarter’s summary of real estate activity on the island.

1 thought on “Update on real estate”

  1. Question. Does that mean the difference amounts to homes sold or those once on the market and now no longer listed.
    That would be interesting to know.

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