Monthly Vivante Review, 1st October, 2022.

I left for England on 14th September for my annual visit home (the first one since 2019) so I haven’t seen the extent of the damages to Vivante personally, but from what I have read and seen online tells me we have a strongly built survivor of a sub division. I have had internet access to NBC2, so I’ve probably seen more information about the local situation than most. Obviously this week has been severely affected by Ian everywhere and it will take some time, physical effort and money to return to some level of normality, but the market marches onward through the wind and rain, so back to my Review. There was one closing during September, 8736 (2,398sf) sold for $785,000. There are three pendings, 8936 (2,398sf, listed at $690,000) was due to close on 28th September but must have been delayed by Ian, 9723 (2,106sf, listed at $580,000) is slated to close on 24th October and 9022 (1,803sf, listed at $535,000) should close on 30th November. There were four new listings; 8942 (2,338sf at $835,000), 98217 (1,915sf at $495,000), 9448 (1,485sf at $390,000) and 9724 (1,485sf at a wild $545,000 – the last sale of a unit with this floor plan was at $372,000 in June, some $173,000 below this asking price)! Vivante had continued to progress from August’s early revival and, as expected, we’re starting to see some new listings appear pre-season. As interest rates are still hitting mortgage applications and approvals and whilst they continue to rise, expect demand to be softish, but not evaporated. As usual, a cash offer conveys a confident potency. Bottom line – I have no idea what the market will do in the very short to medium term whilst the affects of the storm are fully assessed. We’ll have to watch, wait and see. Meanwhile, I hope my car is right side up at MCO when I get back on Wednesday!