Lakeshore Realty leads in Closed Transactions with $16,000,000+ year to date. Our agent productivity exceeds our competitors:
Lakeshore Realty agents= $717,045 agent productivity
Competitor A with 79 agents= $197,101 agent productivity
Competitor B with 30 agents= $498,600 agent productivity
Competitor C with 28 agents = $501,473 agent productivity
Lakeshore has 23 properties under contract which is a strong indication the next quarter will exceed the first quarter in sales.
As we reach to the end of our first quarter the number of sales are up compared to 2009 and prices are down.
Closed transactions = 19
5 of the 19 were short sales or bank owned- these ranged in price from $500,000 to $1,861,000.
The remaining sales of 14 ranged in price from: High: $3,750,000 Median: $775,000 Low: $395,000
The current price differential (list price versus sold price) is 88.71% and average Days on the Market =256.
2009 figures (same time period) totaled 13 sales with a Median sales price of $1,900,000 and average days on the market= 279.
Condominiums: Closed sales 14
Four of the 14 were short or bank owned sales ranging in price from $215,000 to $319,900
The remaining 10 sales = Median selling price of $318,450 with a price differential (list to sold price difference) 95.74% and an average days on the market of 97 days.
2009 sales totaled 7-Median Selling price=$400,000, Days on the market 161
Planned Unit Developments: Total sales = 11
Two of the 11 were short sales or REO’s with pricing between $400,000 to $657,000
The remaining 9 sales = Median price of $657,000 and an average days on the market of 377
2009 sales = 1 with a median price of $312,500, and an average days on the market of 108
So what does it all mean? Sales are increasing and prices are dropping. Bank owned and short sales are having an impact on pricing.
As April begins our inventory will increase as the snow melts. Honest advise to Seller’s… be “serious” and “realistic” in pricing.
Seller’s who price their property based on what they “NEED” to get out of the sale will not sell especially if the price is not in line with the competition. Buyer’s are coming to the table but they are well educated and not concerned with the seller’s reasons for selling.
Call one of our experienced agents to guide you through today’s market scenario and get the results Lakeshore Realty is known for. All our agents are seasoned professionals with the experience and expertise you need to get results in this market!
MLS Information – March 13th to March 20th
PUDs – No new listings
PUDs – No price changes
Sold in 2010