2011 Market News
2011 A Year in Review
- Overall Sales Volume for 2011 – $1,058 Billion Down up 9% from 2010
- Number of Transactions for 2011 – 2412 – up 26.9%
- Sales have redistributed among the different property types.
- Sales for Single Family Homes as a percentage of volume remain the strongest part of the market.
- Condo inventories are at the second lowest in history for our market.
- Vacant Land sales are up 61% from 2010
The Past Decade
- 201 closed volume was third highest year on record
- The median price of all property rose 65% from the end of 1999 to the end of 2009 – The average price rose 93%
- In the same time, the Dow Jones Industrials was 10% lower at the end of 2009 than the its level at the end of 1999
- Our median price of all property is 32% lower today than what it was at the peak in 2007
- Historically the number of closed transactions in the 90’s and early 2000’s was in the 1500 – 2000 transactions per year. In the 2005, our biggest year, it jumped to almost 4000 transactions. So that high number was an unbalanced market – that was our Seller’s market. This past year at 1100 transactions was also unbalanced – a Buyer’s market.