What does it mean when “Madaket”, “$7.775mm” and “Under Contract” are in the same sentence? Means the market is popping! Total volume closed YTD is approximately $375mm. We did not hit the $375mm mark until end of August in 2012 and 2013 and total volume for those years ended with $830mm and $760mm, respectively. Considering the next four months are traditionally our most productive months, we may be headed to the $1B mark this year! Values are moving up, as well. For instance, 15 Lauretta Lane sold for $2mm on 12/17/04, $1.5mm on 12/20/11 and is currently under agreement for right under $2mm. So, we are not back to peak pricing, but everyday we are getting closer.
Happy Independence Day!