While I was reviewing some historical sales numbers from our Multiple Listing Service this week I noticed a significant trend I wanted to share with you. This trend is significant in light of the U.S. real estate market trending in the wrong direction.
As many of you know the Roatan Real Estate market has been very strong for several years, so I was curious if 2007 had continued that upward trend while the U.S. market was trending down. Based on my personal experience I felt the Roatan market had stayed strong and based on the MLS data the answer is definitely yes.
The total Roatan marked had a strong increase of 33.9% in total dollar volume of sales to $51.3M. Many would argue that an increase in sales volume alone does not make a strong market but here is the kicker. With that large increase in dollar volume the average sale price for a property only changed -0.7% with the average price being $309,000. In the current world market to have a 34% increase in sales volume with effectively no change in the average price represents a strong and stable real estate market.
Enjoy Life! Philip