Thursday, September 21, 2006

With August sales results just finalized, there is virtually no change in the state of the real estate market on Hatteras Island. The inventory of property for sale is about 60 percent higher than it was a year ago, and both the number of sales and the volume of sales are down approximately 50 percent. While the average selling price of residential properties is 2.4 percent lower for the first eight months of the year compared to the same period in 2005, the average selling price of unimproved lots is up over 28 percent. The Hatteras Island Pending Home Sales Index, a leading indicator of sales 45 to 60 days in the future, has remained essentially flat since last November, suggesting that current market conditions will continue for the next few months. On the positive side, we are receiving more inquiries from prospective buyers. Hopefully, this is a harbinger of better times ahead.

13 Comments:

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At 2:04 PM, Blogger panama said...

Yup, I think real estate investors of Hatteras Island did not get much profit as they all have expected,
I belive that, it is better to chose a place which is more closer to beach...then there can be more income - This is from my own experience in the real estate investment

-Kathy
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At 9:43 PM, Blogger Dan said...

This comment has been removed by the author.

 
At 9:45 PM, Blogger Dan said...

This comment has been removed by the author.

 
At 9:48 PM, Blogger Dan said...

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At 5:32 AM, Blogger HcoRealEstate said...

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