Single family home sales county-wide were down less than 1% compared to the previous month but up 9% compared to January 2011. Also, this was the best January sales figures in 8 years. On the mainland, there were 52 houses that sold for under $100,000 which remains low and 27% lower than just 2 months ago. Again most of these low sales were in the south end and the northwest side of the county. The high sales were inGrandHarbor atCoventryIsland andHarborIsland, selling for $525,000 and $575,000. There were also some mid-range sales in the high $300s in Old Savanna, Eagle Trace andAnsleyPark. Two sold in Riverwind for $330,000 and 3 inWaterwayVillage in the low $200s.
Absorption rates are higher on the mainland than on theIsland. This is an indicator that lower priced and smaller properties are more in demand. Also, the cash sales show that investors are still buying up the real deals. With the recapture of equity anticipated over the next few years, low to mid priced houses are expected to appreciate. Investors can also earn a positive cash flow from renting the investment.
