We all knew it was a good year for waterfront sales, but really, up a whopping 119 units or 27% year over year or an even more impressive 154 units over the median annual unit sales for the last 10 years.
On the other hand we have the median sale price and it continues to be sluggish. Coming in at a median of $250000 compared to the pre-recessionary high of $317250 (year 2007), the median sale price is down 21% from the high.
Bottom line, demand is rising and sale prices have not responded. It appears the market continues to be a buyer's market.
Other fun figures from last year waterfront sales include a median tax bill of $3162 (10 yr median of $2777) and a median structure square footage of 1742 (10 year median of 1700). Waterfront places were selling for 92% of their list price.
Of course it's the old "time will tell", but with the demand sharply rising and short of a glut of listings, we should begin to see appreciation in our waterfront sale prices. I can hear the collective "Hallelujah" from our sellers.
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