Monday, July 24, 2006

What's Dropping?

Prices aren't the only things dropping in Cocoa Beach. July is the month for juicy beach mangoes. The ones above came from a friend's tree a few blocks from my office.

MLS stats from Cocoa Beach and Cape Canaveral - July 25

Active condos for sale, all prices_________992
___condos over $500,000_______________211

Single family homes, all prices___________145

Condo inventory continues to slowly drop but I expect the numbers to creep up as the currently under-construction developments approach closing and more speculators list their units. Sales activity has been brisk this month in existing under-$400,000 condos, but, I'm still seeing the high-end units languish on the market without much interest. Speculators are feeling some pain in these luxury units.

For an interesting take on 100% mortgages, read Dan Green's recent post.

Thanks for all the emails and comments on the blog. I appreciate them all, even the occassional upturned nose from another realtor. As Elton John said, "Don't Shoot Me I'm Only the Piano Player". Keep those comments coming.