Perked Ears and Piqued Interest
More so than ever because there are no rentals available for this summer, a big contingency of buyers are literally buying right now so they can be on Island this summer. A lot of the desirable sales listings are rented for the summer, so if a listing is available for this summer, it has a big competitive advantage over the listings that are rented. Definitely perks my ears and piques my interest when buyers says they can’t find a rental, but definitely plan to be here this summer:-)
The market continues to be very strong. The biggest issue is a lack of inventory. After hearing what their property is worth, I imagine some owners will get perked ears and piqued interest and test the market, but all in all, I think inventory is going to remain light.
Here are the YTD closed stats, which are incredible. And, at least another $200mm in the pipeline.
|YTD as of June 11 in mm’s|
|2009||$109||Lowest total yearly volume.|
|2020||$301||$1bn+ year. Record year at $1.86bn.|