Here are the sales figures for real estate for the first quarter of 2012.
Waterfront Homes: Total transactions for 2012 are 118, up 44% from this time last year. Total volume is nearly $35,000,000, up from a little over $27,000,000 on 2011. The average sales price in 2012 is $279,199, down from $333,486 last year and from $385,861 in 2010. Waterfront home bank owned sales are up slightly.
Off-Water Homes: Total transactions are up 10% from 2011. Total sales volume is up slightly, with fewer bank owned sales. The average sales price for 2012 was $102,038 vs. $109,205 for 2011.
Condominiums: Total transactions are up 33% compared to the same period last year. Volume is up to $11,090,000 from $8,900,000 in 2011. Average condo sales price so far this year is $140,295, down from $160,457 last year. Bank owned condo sales are double last year's numbers at this point.
Villa sales are up this year with higher average prices. Lakefront lot sales have tripled in 2012 vs. 2011, with lower average sale prices. Raw land sales have increased in number this year, with average prices up slightly and fewer bank owned sales. Commercial sales are fairly steady with somewhat stable average values. Bank owned commercial sales this year are non-existent. There are more farm sales in 2012 vs. 2011.
When considering all property type sales, there have been 401 closed sales in the first quarter of 2012 compared to 316 closings in 2011, an increase of roughly 26%. Total volume for 2012 is $73,116,570 up from $56,723,772 in 2011.
The good news is that there is more activity in real estate sales at the lake so far this year. The bad news is that the average sales prices for homes and condos has decreased. If you want information specific to your property, please let us know. Averages cannot apply to every property.
One quarter down and three to go.
Have a great year!