June 4th, 2013 8:42 AM by Mike and Susie Berra
Waterfront Homes: Total number of waterfront homes sales is down to 206 from 233 last year. Average sales price is up from $303,222 in 2012 to $314,563 this year. The number of bank owned sales increased to 24 compared to 16 last year. Bank owned sales represent 11.5% of all closings of waterfront homes.
Off-Water Homes: The number off-water home sales jumped from 273 in 2012 to 324 this year. Average sales price in 2012 was $108,740 and is $129,435 in 2013. Bank owned off-water home sales have declined to 85 this year vs. 94 sales in 2012 and 108 sales in 2011. Bank owned sales represent 26% of all closings of off-water homes, down from 41% just 2 years ago.
New Condominiums: New condo sales increased in 2013 to 21 vs. 12 closings at the same time last year. The average sales price has increased from $178,391 in 2012 to $219,479 this year. Bank owned new condo sales only number 2 so far this year.
Resale Condominiums: Resale condo closings this year up slightly from 2012. There have 180 closings in 2013 vs. 178 sales in 2012. Average sales price in 2012 was $152,616 and the average sales price is down for 2013 at $143,457. Bank owned sales are down from 16 last year to 11 this year. Bank owned sales are only 6% of the closed sales this year, compared to 11.5% 2 years ago.
Villas and Townhomes: The number of sales has increased from 12 closings last year to 17 this year. Average sales price has jumped from $255,899 in 2012 to $296,350 this year. Bank owned sales only number 2 this year.
Lakefront Lots: Lake front lot closings have double in 2013 to 32 vs. 16 sales in 2012. The average sales price is down to $131,367 from $184,556. Bank owned sales doubled from 3 in 2012 to 6 in 2013.
Off-Water Land: The number of sales increased in 2013 to 63 vs. 44 in 2012. Average sales prices are up slightly from 2013 at $47,615. Bank owned sales number 2 this year compared to 6 last year.
Commercial: Commercial sales have nearly doubled in 2013. There were 17 closings last year and 32 this year. Average sales price in 2012 was $189,441 and is $190,056 this year. Commercial bank owned sales have jumped from 4 last year to 13 this year, which is about 40% of the commercial sales.
Farms: Farm sales have risen from 6 in 2012 to 10 in 2013. Average farm price this year is $227,258 compared to $186,317 in 2012. There is no record of bank owned farm sales this year.
Overall, there have been 885 sales so far in 2013 vs. 784 in 2012. Total sale volume is up around $17,000,000. Total bank owned sales have numbered 145. The off-water home market has seemed to do much better than last year as well as waterfront and off-water lot sales. The waterfront home market has had fewer transactions in 2013 and there has been a spike in commercial bank owned sales.
The average sales prices stated here are not meant to indicate a rise or decline in values. It is strictly a number based on a collection of sales, not necessarily all being similar. Each area would have to be analyzed individually to estimate value stability, increase or decline.
Note: Data taken from Bagnell Dam Association of Realtors MLS