Ocean Pointe Q1 2007 Real Estate Sales Activity of Existing Homes
By Randy L. Prothero, Missouri REALTOR, (808) 384-5645
(eXp Realty)
Single Family Homes in the Ocean Pointe has shown some price decreases. The average sales price of single family homes have dropped in value nearly 11% from the same time period last year. While sales volume has been consistent the inventory levels have increased to about 6 months worth. On the condo/ townhouse side the average sales price has not changed much over last year for the same period, but sales volume has dropped and inventory levels have increased. There will be continued pressure for sellers to be more flexible on prices and terms to compete against the rising levels of inventory.New home construction in the area is also putting pressure on the pricing and sales activity.With interest rates low this is a good time for buyers to negotiate a good deal. Sellers will need t...
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