In comparison to the two previous years, condominium sales are clearly up. The graph below compares sales volumes for the past three years, and in 2011 we see significant improvement. This improvement in sales volume does not mean that market recovery is occurring. That being said, we are seeing signs of price stabilization in some areas. The sales volumes for March, April and May of 2011 are much higher than they were in 2010. In March 2010, 71 condos sold but in March 2011, 93 sold. April is even better, with 107 condos sold this year compared to 77 the year before. The 118

condos sold in May 2011 are nearly double the 65 sold in 2010.

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We are working our way though attractively priced inventory and some floor plans lack availability. We’re also doing well with accurately priced foreclosures. These sell quickly, and often go under contract within a few days of hitting the market.

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The Calypso has sold numerous units with the floor plan for a two-bedroom + bunk room unit. The graph above shows that although the sales have fluctuated in recent months for this floor plan, signs suggest the price seems to have stabilized within this particular price range. Please note: those units between $218,000 and $220,000 are unfurnished units, so the graph also indicates that people are willing to pay extra money to purchase a furnished condo.

The graph below shows data from Calypso, Majestic and Sunrise Beach. For the same type of unit, the data demonstrates similar sales trends with further evidence that the prices are stabilizing within this price range.

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