The market remains strong. It is off to a slower start than last year, but that is mainly due to weather conditions over the winter. Buyers literally could not get on Island for many weekends this winter, which hurt sales; on the contrary, it helped when buyers could not get off Island:-) That being said, the numbers are still strong. So far, year to date, approx. $307mm has traded compared to $385mm in the first six months of 2014, $240mm in ’13, $282mm in ’12, $222mm in ’11, $247mm in ’10 and the lowest volume in recent history, $115mm in ’09. Sellers seem to be coming out of the woodwork, as well, as available listings are up significantly from their low last year. Right now, there are 441 available listings compared to the low of 366 at this time last year, 452 in ’13, 520 in ’12, 610 in ’11, 651 in ’10, 680 in ’09 and the peak of 695 in ’08. I do anticipate a lot of activity in the next few months. It may not be another $1bb year, but it will be very close.
All Thawed Out and Ready for Summer
