The real estate marketplace is strengthening, according to Holiday Homes of St. John.
“The market is experiencing an increase in the number of home sales, with an accompanying increase in the average sales price,” the Realtor’s summer newsletter said. Furthermore, “There have been surprisingly few foreclosures to report.” Sales year to date include 21 homes.
Inventory as of this week stands at about 165 homes, 10 fewer than a few weeks ago, indicating that the usually-soft summer selling season has not been the case.
Land sales are also up strongly, 145% over the first six months the of last year, the newsletter said.
“It’s been hard for most (home) owners to get over their idea of what they might have sold for a few years back,” Holiday Homes said.
The real estate firm is optimistic that the second half of the year will be good for sales. “Buyers realizer the market has bottomed out, but there is still time to buy now.”