Sunday, February 18, 2007

Early Feb. Numbers

Revised total closed sales of MLS-listed properties for January in Cocoa Beach and Cape Canaveral were:

Single Family Homes___3

As of this morning, Feb. 18, the totals since Feb. 1 are:

Single Family Homes___4

Looks like we're on pace to exceed January's numbers. I continue to see deals significantly below year-ago prices and there is an increasing number of properties on the market at below purchase prices from the last 2 years, so, barring any unexpected developments, I expect this increased activity to continue. There has, so far, been no mass capitulation in high-end condos although I'm hearing stories about strong-armed tactics from developers trying to force defaulting buyers to close on pre-construction contracts. On the surface that would suggest that the developer believes the unit is worth less than 90% of the contract price.

Current MLS Inventory in Cocoa Beach and Cape Canaveral

Single family homes__148

If you've got anything interesting to share about our market, please email me. Until next time, keep a close eye on your chips and question everything you hear from the main-stream media.