Fourth Quarter, 2005
As we enter the 4th quarter of 2005, the year-to-date statistics continue to look strong for real estate along the South Coast. The median price climbed 16% to $1,015,000; average prices rose 23% to $1,571,872; and the number of sales over $1 million hit another all-time high of 959, up 32%. The overall number of sales, 1859, declined about 5% compared to 2004. Post Hurricane Katrina activity has been very similar to market conditions following 9/11- an increase in properties coming on the market, an increase in
price changes and Buyers becoming more cautious. After 9/11 our market came back strong during the holidays. I will have more information by my next quarterly update.