JUNE 2014 HOMES FOR RESIDENTS & VISITORS
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Data Show Signs of Recovery By Glenn Jones Here are some of the highlights from Rego Sotheby’s statistical reporting which is also available on the company’s website: Home Sales Volume 2013 - $225 million in total 2012 - $197 million in total
Average Residential Rental 1st Quarter 2014 Studios $1,000 per month
13% increase
Year-end statistics on the Bermuda real estate market are giving realtors and home sellers reason to celebrate. Buddy Rego and his team at Rego Sotheby’s International Realty have labeled 2013 a “market turnaround” year for residential real estate, reporting the first year-over-year sales growth since 2008. Meantime, Coldwell Banker is reporting growth in the first quarter of 2014 as well. Its latest market intelligence report reveals a 38% increase in the amount of sales closed in the first quarter of 2014 when compared with the first quarter of 2013.
Property Transactions 2013 - 107 units 2012 - 97 units
10% increase Condo Property Values Sales Prices 4% (ARV of $32,400 or less)
Sales Prices
One Bedroom $1,750 per month
8%
(ARV of $32,400 or more)
Two Bedrooms $2,400 per month
Three Bedrooms $4,000 per month
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TELEPHONE: (441) 293-1162 • CELLULAR PHONE: (441) 334-9852 • E-MAIL: CLEANING@IBL.BM www.islandpropertynews.com / May 2014 / Island Property News 01