The Weekly Wrap - Jan. 22, 2017

I am contemplating adding a weekly or bi-weekly wrap-up like the one below into the usual mix of ramblings about agent shenanigans and misbehavior. Feedback and/or suggestions are appreciated. I'm fond of the thought of "less is more" but I've been known to take that to extremes as evidenced by a couple of month long gaps between posts in the past. Note that the data I'm reporting are totally dependent upon those entering said data, a group not known collectively as being dependable nor prompt. That means there will be some under-reporting due to listing agents who didn't get around to marking a listing as contingent or closed. That said, the picture of the overall trend is true.

For the week Sunday, January 15 to Sunday, January 22 there were 26 new MLS listings of  residential properties in Cocoa Beach and Cape Canaveral. Twenty two of those were condos or townhomes and four were single-family homes. Four of the 26 new listings were under contract in three days or less, a sign of spot-on pricing and strong demand. It must be noted that there is no level of demand that will overcome some of the extreme over-pricing that I'm seeing on a lot of properties. During the same week another 18 properties that had been listed prior to last Saturday went under contract. Only five properties were reported closed during the week.

There are currently 216 existing condos and townhomes offered for sale in our two cities and another 29 units in proposed projects yet to break ground. A third of the total have been for sale for over six months, a sure sign of over-pricing. The single-family home market is somewhat more rational with 60% of the 61 houses for sale on offer for less than three months.

I'll try to post this wrap-up every week if it looks like anyone is interested. If not, we'll go back to the random post when the wind changes direction schedule.

I enjoyed seeing a lot of you last night at the downtown Sip n Stroll event. Clear skies and temps in the mid 70s contributed to the attendance. There were 26 different stops scattered in a three block area of downtown, each offering a small splash of wine and an hors d'oeuvre to the hundreds of folks moseying about. Some stops like Twin Finnegans and Heidi's Jazz Club had lines out the door when I stopped by but I didn't hear any complaints. I missed well over half of the stops as I maintained a tight orbit around the Studios. It was fun.

“If a free society cannot help the many who are poor, it cannot save the few who are rich."
  [Inaugural Address, January 20 1961]  John F. Kennedy

A considerable share of the world's population still cannot afford comfortable housing, education and quality health care.
Read more at: https://www.brainyquote.com/quotes/authors/v/vladimir_putin_3.html

A considerable share of the world's population still cannot afford comfortable housing, education and quality health care.
Read more at: https://www.brainyquote.com/quotes/authors/v/vladimir_putin_3.html

A considerable share of the world's population still cannot afford comfortable housing, education and quality health care.
Read more at: https://www.brainyquote.com/quotes/authors/v/vladimir_putin_3.html