Friday Facts June 24, 2011

FRIDAY FACTS
June 24, 2011


ALL PROPERTY TYPES YEAR TO DATE COMPARISON CCIMLS
County/Barnstable Town/Falmouth Town/Mashpee Town/Bourne

Date Range: 1/01/11 1/01/10 1/01/11 1/01/10 1/01/11 1/01/10 1/01/11 1/01/10
Thru Thru Thru Thru Thru Thru Thru Thru 6/15/11 6/15/10 6/15/11 6/15/10 6/15/11 6/15/10 6/15/11 6/15/10

Under $100,000 62 55 5 4 5 1 4 4
$100,000-$199,999 285 257 15 17 22 20 26 15
$200,000-$299,999 414 488 51 59 28 27 25 32
$300,000-$399,999 293 375 51 58 17 16 6 19
$400,000-$499,999 191 189 26 35 12 9 6 11
$500,000-$599,999 121 122 20 25 3 7 5 4
$600,000-$999,999 145 174 18 44 12 12 1 6
1,000,000-1,999,999 69 57 8 9 3 2 2 3
2,000,000-3,374,999 15 18 2 2 1 0 0 0
3,375,000-5,999,999 1 7 0 0 0 0 0 0
Total 1596 1742 196 253 103 94 75 94

HIGH END:
From Banker & Tradesman: “Sales of $1 million-plus homes in Massachusetts took a big hit during the recession, and despite a mini-rally last spring, have yet to fully recover, according to data obtained from the Warren Group. The decline in very high-end homes was gradual at first, with the number of $1 million-plus sales barely budging from the 2,300 to 2,400 – per year mark in 2006 and 2007, even as the rest of the real estate market began to tank. With the near-collapse of the global financial system in 2008, high end sales dropped 25% statewide down to 1,800 for all of 2008. As the worst recession in generations kicked in, sales of homes worth $1 million and more took another dive in 2009, to 1,400. By the end of 2010, sales of home $1 million an up rose to 1,760. In the first quarter of 2011, 260 homes above $1 million sold in MA, the exact same number as the first quarter of 2010.”

KEEP IT IN PERSPECTIVE:
Here’s our quote of the day from Steve Murray in RealTrends: “Still, over 5 million homes will be bought and sold this year, and that activity will generate over $35 billion in residential commissions. So stop worrying about double dips and start focusing on how you are going to grow your share of that market and do so profitably.

END WITH A LAUGH:
In the category of “spin”: A headline in RISMedia said, “May Home Prices Spring Back”. The first sentence in the article read: “Home sale prices continued a downward trend in May – but only half as far and half as fast as in April …”