Williams Island Real Estate Market Review 2nd Quarter 2015
Property Values Have Increased 10% Over Past 12 Months
The chart above is telling us that overall property values on Williams Island have increased by 10% year over year when comparing the average sales price over the past twelve months to the previous twelve month period.
10 Month Supply Of Available Condos For Sale
Over the past twelve months there has been 129 homes sold. This is an average of 10.75 closed sales per month. There are currently 110 condos for sale on Williams Island. Therefore, there is currently a 10 month supply of available condos for purchase (110/10.75=10.23).
Buyer’s Market Makes It Difficult For Home Values To Increase
Williams Island Real Estate has transitioned from a Seller’s market to a Buyer’s market over the past twelve months. Anytime you have over a six month supply of homes for sale, you are in a buyer’s market. This will make it difficult for property values to continue to increase over the next twelve months.
Now Would Be A Good Time To sell Your Williams Island Home
If you are considering to sell your Williams Island apartment over the next 6-12 months, now would be the best time to sell. The odds are in your favor that you will get more now than you will 6-12 months from now. As a Williams Island specialist, I get notifications every time an active listing expires. These are apartments that were available for sale and did not sell after being on the market, typically for six months. I have gotten more of these notifications than usual over the past six months. Thus many of these homes that did not sell will come back onto the market, usually at a lower price.