Second quarter 2014 sales performance of the single-family market is up by 50% in total $ sold compared with the first quarter 2014 ($82,488,855 2nd Q 2014 versus $54,523,940 1st Q 2014). This increase is mostly due to the waterfront market performance. Five waterfront properties sold this quarter for $13,700,000 (only one property sold all last year).
North Grove and South Grove have been selling about the same number of properties every quarter since the beginning of 2013. This quarter the median sold price in South Grove jumped 54% compared with the first quarter 2014 ($1,387,500 2nd Q 2014 versus $899,000 1st Q 2014). Nine properties sold in West Grove, with three of them selling for more than $400,000.
The number of units sold in the condo market has increased by 43% compared with the first quarter 2014 and 16% compared with the second quarter 2013. As predicted in our first quarter 2014 magazine, amazing sales of pre-construction luxury condos shook the $2 million and above resale market this quarter, with four condos being sold in this price range.
Market behavior varies widely for each price segment, each sub-neighborhood, and each building. For our in-depth analysis of your property’s value, please call us. We will share our knowledge with you.
Click here for the Complete Second Quarter Report.
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