Geez. Sometimes I hate numbers.

Let's talk Real Estate for a moment.
We all know last year was pretty much a wash when it comes to sales- so I thought I'd go back to 2008 and compare it to the current reporting for the year to date. In 2008, 66 properties, townhouse/condo and single family freestanding houses combined sold on the Island, East End, 41; West End 25, between Jan 1 and Feb 18th. The economy was in better shape and there were no Ike damaged properties.
This year there have been 45 closed sales: 23, East, and 22, West. Conclusion: sales aren't so good. I did the whole evaluation by type, average, and median on area and price per square foot. Yechh.
Here's what I think is important (I won't post the numbers as they are a bit painful.) Comparing 2008 and 2010 year to date, we are down roughly a third in volume of sales and median sales prices over the entire Island. It's almost impossible to pinpoint why.
It's still so much better than much of the country.
We currently have a huge supply of houses and condos on the market- 629 in the East End and 338 in the West End. If you've got your funding in place, now might be the time to find a good deal. Not great. But good. Be sure and talk with your favorite Realtor or Lender before getting too far along, though.