Does THREE make a trend?

After several unusually quiet years in the real estate market on St. George, our sales have finally picked up, and now we are just all waiting to see what "shape" this next cycle will take.  Will it be a long flat trough before prices head up again?  Probably not a "V" - I think we're all past looking for "V"'s.

But, we now have 3 recorded sales of one acre beachfront lots in the Plantation, which traditionally are the trendsetters for real estate prices on St. George Island.  The first went under contract in July and closed in August for $640K, the second also went under contractin July and closed in August for $685K, and the third went under contract in October and closed in October for $725K.  And, we have another that has been wending its way through the short sale process since August, with a list price of $650K.

The one acre beachfront lots still listed for sale in the Plantation start at $795K and go up.

So, can we consider this a trend???  Bowing to my training 2 lifetimes ago in statistics, I'd have to say it's a little early to tell, but it sure does look like we may at least know generally where the settling point is for the lower end of this market cycle.... 

 So....everybody off the bench.

If you're going to get in the game, this might be the time to do it (or last month was the time you should have done it...!!)...

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