| ANNUAL MARKET SALES SUMMARY: Single Family Homes | |||||
| ATLANTIC HIGHLANDS | 2004 | 2005 | 2006 | 2007 | 2008 Q1-3 |
| Total Homes Sold | 68 | 63 | 42 | 49 | 28 |
| Change from Previous Year | -7.35% | -33.33% | 16.67% | ||
| Average Sale Price | $481,474 | $514,719 | $445,666 | $550,599 | $548,092 |
| Change from Previous Year | 6.90% | -13.42% | 23.55% | ||
| List-to-Sale Price Difference | 95.98% | 95.24% | 95.04% | 93.42% | 91.18% |
Although initially 2008 had an encouraging start for Atlantic Highlands relative to 2007, sales have not kept pace with the previous year and have fallen behind with unit volume down 30% for same period (Q1-3) last year.
On a more positive note, there were some gains in the 3rd quarter for sales prices (which had taken a hit in the first half of the year) with average sales price for the term at very close to last year's average... about 1/2 % off.
Buyers continue negotiate and we can see their leverage in the list-to-sale differential with an almost 9% gap between asking and sold price.
Advice to sellers: Continue to price aggressively, maintain optimum market position thru marketing, showing condition & easy accessibility. To discuss selling the pros & cons of selling in the current Atlantic Highlands market, please give me a call.
