Real estate sales set new record

Frank Barnako is reporting:

"Even though inventory is at a record high, real estate sales people say 2004 was one for the books - and 2005 looks strong, too. Industry statistics in mid-December showed at 160 transactions were closed last year compared to 177 in 2004. But the average sale price is higher, with 2005's total business value at $140 million, compared to 2004's $115 million. "The average price has increased on St. John yet again," John McCann of John Foster Real Estate told the St. John Tradewinds.