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Once upon a time there lived a small, humble grey mouse – he lived in a church: he was very quiet and slept for months at a time because nothing much was happening in his world. One day, however, he woke to discover the church had a new roof and all the draughty doors and windows were being fixed. No longer the quiet church mouse – he was the mouse that roared. Vivante is similarly asleep – there were no sales, no pendings, no new listings and only five active listings. Only two have had their price reduced, more out of impatience probably than comparison. The average time on the market for the five active listings is now 199 days, a median of 143 and high/low of 377/87. Similarly their prices per square foot are – average $298, median $300, high/low $367/$245. Sales statistics don’t exist that are younger than 4 months and, when current, those are the most reliable pointers as they tell us where the market is. With such wide margins and no volume to tighten things, we must continue to wait developments beyond the market’s control. But, like the mouse that roared, watch closely for bullish signs; particularly watch for the installation of our new roofs to gather pace, listen to the COA board and our litigators for the reactions of our insurers and you might see a kindling of interest begin to burn brighter.
