Sales Activity at Pelican Pointe, in Venice – The Half Year Report: Jan 1 – Jun 30, 2011

The overall inventory of properties available for sale in Pelican Pointe, a subdivision of over 1,200 homes, has declined significantly since the end of last year, when the months of inventory was in the double digits.  Currently, there is a 7.5 month supply of inventory, and 45 homes for sale. Further, over the last 4 months the inventory has remained relatively stable with an average 6.8 month supply of homes.  A 6 month supply is considered to be in a state of “equilibrium”, i.e., a fairly balanced market between sellers and buyers.

	Sales Activity on a Square Foot Basis: Jan 1 - Jun 30, 2011
Square Feet	Up to 1599	1600 - 1999	2000 - 2399	2400 - 2699	Over 2700
Total Sold	13	6	10	5	1
Price per Sq. Ft. (avg.)	$127	$139	$151	$175	$150

Whereas, there has been an increase in sales for the first 6 months of this year as compared to last year, sale prices have gone down.  There was a 5.6% increase in home sales for the first 6 months of this year vs. the same period last year; 36 homes sold in 2011 vs. 34 for the comparable period in 2010.  However, the average price per square foot dropped 11% --- from $162.50 a square foot during the first half of 2010 to $144.66 a square foot for the comparable period in 2011.  In fact, comparing the first half of this year to last year on a month to month comparison basis, the average price per square foot on any given comparable month was anywhere from 9% to 21% less in 2011 than 2010.  The only exception was April, where the average price was the same in 2011 and 2010 at $154 a square foot. Drilling down, the above chart categorizes homes on a square foot basis.  It reflects the total number of homes sold in each category for the first 6 months of this year, and the average price per square foot.  Although this chart is not dispositive of what a particular home will sell for --- condition, age, location, upgrades and finish work will impact the actual sale price of each home --- it is indicative of what a typical home, within its’ category, is likely to sell for. The statistical data contained herein has been extracted from independent reports provided by ©Trendgraphix, July 2011, which obtains its information from the Multiple Listing Service.