Are you taking out the $7+million closing for the home in Rosemary from June 2007, which as Murray alluded to somewhere, skewed the numbers from that month?
The $7 million dollar sale in Rosemary occurred in Sept 2006 according to county records.
There were two fairly decent sized sales in RM in June 2007. Throwing those out of the totals brings the average price down to $1.165 million. However, I guess you need to throw a couple of large dollar sales out of the June 2008 numbers to be consistent. Regardless, the average sales price is still WAY down below 2007. In addition, I'm not sure, but I don't believe that short sales and foreclosures are included in the numbers Murray quotes (????). Those are real sales and are an indicator of the true nature of the market. Excluding those sales from the mix skews all of the numbers to the positive side in 2008 versus 2007. I would like to see the numbers including ALL sales in the market.
That's also why I asked for year to date numbers to get a bigger sample size over a longer period of time. Gives you a little better comparison.
Anyway, are you trying to imply that prices aren't really falling in Sowal? This market is not immune to the problems that are plaguing the rest of the country. In fact it is much worse than the average market. Discretionary income is drying up and luxury purchases are being delayed or forgotten. This includes second homes. Unfortunately, it appears that we are in for a very, very rough ride for a couple of years.
Depending on the outcome of the election. It could get much, much worse for secondary home markets. If the democrats sweep, and tax rates skyrocket, the potential roster of buyers of second homes will shrink dramatically.