May a Robust Month for the Island

Pending sales continue to be a driving force in the market with May sales on the island up 77.4% over those of a year ago. The market has become much more balanced with many more sellers coming to market and selling within a very reasonable market time. Buyers are seizing the opportunity to gain from both bottom of the market home prices and very low interest rates. Statistically speaking, prices have remained steady. However, some pockets of homes and neighborhoods have seen price increases due to demand.