Welcome to the Collins Group Realty July 2011 Market Update
Last Updated August 25th, 2011
Happy End of Summer…NOT! It just “seems” like it should be the end of Summer with schools back in session, but it definitely doesn’t “feel” like Summer is over. In fact, we’re just now getting the consistent afternoon thunderstorms that have been lacking all “summer”… In some respects, the feeling of summer never goes away when you live on an island, which makes it so special to be here on HHI!
Okay…so here’s the latest on the market. Pending sales dropped over the past month (in part due to back-to-school time for many of our would-be buyers), and so did new listings – in fact, quite dramatically (over 30% fewer newer listings this July as opposed to last July, in fact)! Closed sales inched up, while days on market dropped by double-digit % points – all positive signs for the market.
Of particular note – the housing affordability index is still climbing significantly. In fact, given the demand we have been seeing on long-term rental properties (and the resulting increasing rates for rental homes), there are many cases where buying makes a LOT more sense than renting right now. If you know someone who is on the fence, please send them our way so we can give them the scoop.
As always, we’re proud to be of assistance – so call us ANYTIME! And, yes, we do text, email, HeyTell, Facetime, Skype and Facebook!
Chip Collins
Owner/Broker-in-Charge
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