Let me provide some quick inventory numbers.  Today there are 142 single family homes listed for sale on the East Shore.  Ranging in price from $395,000 to $100,000,000.  The latter of course being Tranquility listed by Shari Chase and Susan Lowe at Chase International.  Of the 142 listed, the average single family home listing price is $3,131,823 and the median price is $1,397,000.  If you remove Tranquility and one other listing for $37,000,000 the average price is reduced to $2,197,992 and the median price is $1,395,000.  In 2007 there were 74 single family homes sold so the “snap shot” look at the inventory suggests that there is approximately 23 months of inventory on hand.  As stated in the previous post, this is just a snap shot for the total market and does not take into account the price, condition and location of a specific home. 

In the condo segment there are currently 89 properties listed for sale.  Prices range

from $171,900 to $3,450,000.  The average listing price is $640,167 and median price is $429,000.  Once again, it is just a snap shot, but based on the fact that there were 40 condos sold in 2007 there would be 26 months of inventory on hand.