Pelican Pointe Golf & Country Club – Market Report

Year to Date Snapshot Thru August 31, 2011 Pelican Pointe is in a recovery mode.  The above chart shows home sales at Pelican for the past twelve months.  These are the highlights:

• The number of homes for sale keeps dropping; it dropped 4.8% from last month; and 32% from January.  As of August 31^st there are 40 homes for sale.
• New listings are on the rise, 10 new listings in August, compared with only 4 in August 2010; if this is a precursor of coming months, there should be an ample supply of homes for sale coming to market.
• The supply of homes, based on the rate of closed sales, usually increases during July and August.  Although this year is no exception, the average monthly supply of homes for the last two months was 15.25.  This represents significant improvement over the average 29.5 month supply for the same period last year, and is indicative of stronger sales as we prepare for the prime selling season.
• The overall median price held firm at $292,750 for the first eight months of this year, vs. $294,000 for the same period last year.
• The overall average price, on a square foot basis, fell 8.2%;  $147.62 a square foot for the first eight months of this year, vs. $157.25 a square foot for January to August 2010.

What does this mean for you? Currently, sales are strong, inventory is low, median priced homes have stabilized, and interest rates are at historic lows.  Therefore, this is a very favorable time to sell your home, provided it is priced competitively.  Be forewarned: Today’s buyer is well informed, pricing is key. The following chart is a more definitive snapshot of the market value of homes at Pelican for the first eight months of this year.  Certainly, every home is different, with its own distinctive features.  It would be our pleasure to provide you with a personalized, confidential and in-depth analysis of the market value of your particular home.