Year to Date Numbers

Here are the sales through the end of August and the current MLS inventory of properties offered for sale. Our condo inventory continues to shrink while single family home supply is almost unchanged. Single-family home sales have been robust with July and August being the strongest 2 month period so far in 2007. In the over-$500,000 condo market, 27 units have closed so far this year while there are 139 listed for sale, a 39 month supply at this pace. In the under-$500,000 condo market a total of 265 units have closed through August 31 with a current supply of 743, or a 23 month supply.

Closed 2007 MLS sales in Cocoa Beach and Cape Canaveral

Condos

• August____34___3 over $500,000
  
• July______39___3 over $500,000
  
• June______40___6 over $500,000
• May______35___2 over $500,000
• April______43 __3 over $500,000
• March_____36__2 over $500,000
• February___42__5 over $500,000
• January____28__3 over $500,000

Single Family Homes

• August___9
  
• July_____8
  
• June_____5
• May_____5
• April_____4
• March____8
• February__6
• January___3

MLS For Sale Inventory - September 6, 2007

• Condominiums______882 all prices
• __________________139 over $500,000
• Single family homes__172 all prices
• __________________72 over $500,000

Last week while mortgage lenders were dropping like flies and the main stream media was reporting that jumbo loans would now require a minimum 20% down payment, my wife closed an over-$500,000 home sale with a 100% mortgage. As always, take everything you hear with a grain of salt and get a second opinion even if you're certain of the first. George Bernard Shaw put it more eloquently than I, "Beware of false knowledge; it is more dangerous than ignorance."