Shelter Island Real Estate Market Report - Mid October on Shelter Island 10-14-14
The 3rd quarter statistics are in, and they reveal a rising market, as anticipated.
The details are:
2014 - # Sales
1st Qtr $27,828,000 - 12
2nd Qtr $27,358,875 - 21
3rd Qtr $20,368,000 - 13
YTD $75,554,875 # Sales - 46 - Average: $1,642,497
2013 - # Sales
1st Qtr $ 8,751,000 13
2nd Qtr $31,315,750 26
3rd Qtr $25,997,241 24
YTD $66,063,991 # of sales - 63 Average: $1,048,635
2012 - # Sales
1st Qtr $ 6,919,244 11
2nd Qtr $27,910,400 21
3rd Qtr $19,719,000 19
YTD $54,548,644 # of sales - 51 Average: $1,069,581
The numbers indicate that:
• Year-to-date, there were fewer transactions than the prior two years, but the sale prices in 2014 have been higher.
• Sales have continued to rise since 2012
• The first half of this year, each of the first two quarters, was stronger than the 3rd quarter;
• The winter of 2013-2014, while long and cold, resulted in the strongest winter season we have seen over the last 3 years;
• The summer of 2014 was in terms of number of transactions weaker than the same periods of 2013 and 2012 and in terms of dollars down from 2013 and only marginally better than 2012.
Seeing every indication that the real estate market on Shelter Island is rising, buyers and sellers frequently ask if our numbers have risen since the height in 2006. I was unable to locate 2006 statistics but in 2007, still pre-recession, for the same time frame, 1st through 3rd quarter, the YTD was $96,001,000 with 64 transactions.
Columbus Day weekend was dampened somewhat by steady rain on Saturday but intrepid buyers were out touring. In Sag Harbor, I presented paintings and artifacts at the Grenning Gallery from historic Shelter Island homes listed for sale and received a wonderfully warm reception from customers, clients and the public. The exhibition will be on display until the end of October so if you are in Sag Harbor, stop by 17 Washington Street to check it out!
The 3rd quarter statistics are in, and they reveal a rising market, as anticipated.
The details are:
2014 - # Sales
1st Qtr $27,828,000 - 12
2nd Qtr $27,358,875 - 21
3rd Qtr $20,368,000 - 13
YTD $75,554,875 # Sales - 46 - Average: $1,642,497
2013 - # Sales
1st Qtr $ 8,751,000 13
2nd Qtr $31,315,750 26
3rd Qtr $25,997,241 24
YTD $66,063,991 # of sales - 63 Average: $1,048,635
2012 - # Sales
1st Qtr $ 6,919,244 11
2nd Qtr $27,910,400 21
3rd Qtr $19,719,000 19
YTD $54,548,644 # of sales - 51 Average: $1,069,581
The numbers indicate that:
• Year-to-date, there were fewer transactions than the prior two years, but the sale prices in 2014 have been higher.
• Sales have continued to rise since 2012
• The first half of this year, each of the first two quarters, was stronger than the 3rd quarter;
• The winter of 2013-2014, while long and cold, resulted in the strongest winter season we have seen over the last 3 years;
• The summer of 2014 was in terms of number of transactions weaker than the same periods of 2013 and 2012 and in terms of dollars down from 2013 and only marginally better than 2012.
Seeing every indication that the real estate market on Shelter Island is rising, buyers and sellers frequently ask if our numbers have risen since the height in 2006. I was unable to locate 2006 statistics but in 2007, still pre-recession, for the same time frame, 1st through 3rd quarter, the YTD was $96,001,000 with 64 transactions.
Columbus Day weekend was dampened somewhat by steady rain on Saturday but intrepid buyers were out touring. In Sag Harbor, I presented paintings and artifacts at the Grenning Gallery from historic Shelter Island homes listed for sale and received a wonderfully warm reception from customers, clients and the public. The exhibition will be on display until the end of October so if you are in Sag Harbor, stop by 17 Washington Street to check it out!
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