Wednesday, August 29, 2012

Activity in The Point

Strong Spring Yields To Slightly Slower Summer at The Point In Some Ranges

Following an extremely active Spring period, activity in The Point trended slightly lower in the June to mid-August window. Early spring had seen pending contracts trend as high as 17 or more homes under contract at one point, with that number now standing at 10 homes under contract. The bulk of that drop coming in the 1-1.5m range, which had been very solid all spring. Pendings edged up slightly in the 500-999k range, while the 2m plus price point saw its first pending contract this summer in several quarters. The range below 1.5 dropped from 9 pendings in May, to 4 mid-August, with solds in that range also trailing last summer.   

Renovations have now begun on the clubhouse at the newly purchased Trump National Golf Club, the completion of which should likely lift interest in the area. Inventory levels remain at very healthy levels relative to past years, with just 48 homes listed above 500k and a slight downturn for 60-75 days can quickly reverse itself, as this quarter in Davidson shows.

Showing activity remains solid in the range under 1 million, while trending lower in the million plus category. The Point was extremely active the first 4 months of the year, and has since seen showing activity cool slightly, trending lower in the range above 1 million compared to both the spring and this time last summer.

Price Range     Actives     Pendings    Shows/house  Sold Summer '12   Sold  '11

500k-999k         21           5               3.25/month        3                  4
1m-2m             17           4                  2/month                           7
2m plus            9             1                  2/month        0                   0

See these Point area homes and others at
              Whaling Ln WF                    Longfellow Estate                   Yacht Rd WF W/Pool

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