In summary, there were 9 homes listed for sale on Masons Island by local real estate agents as of December 1st, 1 less than the 10 that were listed on November 1st. These homes were all actively listed on November 1st as well, and 6 of these listings were active 3 months ago on September 1st also. One home was listed as “under deposit” on November 1st. Finally, there were no closings conducted, and no new listings were added, in November.
The 9 actively-listed homes were in a broad range of listing prices between about $390,000 and almost $2,400,000; the average listing price was about $1,330,000 and the median was close to that at $1,400,000. The average living area for the homes was about 2830 square feet; they were in the range from about 1440 to almost 3820 square feet with the median at about 2960 square feet. These homes had between 3 and 6 bedrooms with the average at 3.7 bedrooms. All homes had either 2 or 3 full bathrooms; and 2 (~22%) of them had one half-bathroom.
Since prices will vary based on such features as living area and # of bedrooms, the chart below provides some additional detail about the number of homes listed by # of bedrooms and range of living area size, as well as the corresponding list price or average listing price.
There were 9 closings so far in 2016 for homes on Masons Island: 1 in the 1st quarter, 3 each in the 2nd and 3rd quarters, and 2 so far in the 4th quarter. The closing prices for these homes were between $325,000 and $4,000,000 with the average close to $1,200,000 and $700,000 as the median closing price. These homes had between 2 and 5 bedrooms with the average at 3.7 bedrooms. They had between 1 and 6 full bathrooms with 3.2 as the average; and 3 (~33%) of the 9 had one half-bathroom. The listings for these homes were active on the market for between 19 and 1060 days; 285 and 191 were the average and median number of days for this metric respectively.
For comparison, there were closing transactions for 9 homes as well on Masons Island in 2015. The closings prices here ranged from almost $120,000 to $1,900,000 with the average closing price being a bit above $800,000 and the median being $700,000. These homes had between 2 and 6 bedrooms with 3.8 as the average, and between 1 and 4 full bathrooms with the average being 2.4; 6 (~67%) of the 9 had one half-bathroom. Listings for these homes were active for between 15 and 350 days with the average being 122 days and median at 81 days.
Looking over the longer term, the two charts below provide some additional data on attributes of homes on Masons Island which have sold per year since the start of 2011, noting that we only have 11 months of data for 2016.
Finally, the lines in the chart below show a 12-month quarterly “rolling average” and a 12-month quarterly “rolling median” for closing prices in the 5 years between the 4th quarter of 2011 and the 3rd quarter of 2016.
The bars in the background in the chart above show the number of homes which were sold on Masons Island in each of those quarters.
We’ll continue to watch the residential property market and bring you additional observations and data in future blogs.
The data reported above were obtained from the CTMLS as of December 1st 2016 for single family residential properties. Updated information will be posted on our Masons Island Real Estate Page. If you are considering purchasing a home on Masons Island or if you would like to work with a Realtor in the area, please feel free to call us. We would love to help you buy or sell your next home.