Bermuda’s inventory of properties for sale is shrinking not expanding.This from Coldwell Banker Bermuda Realty in its July sales market update.There are currently about 236 properties for sale on the market in Bermuda, compared to some 360 last year, the realtor’s manager Susan Thompson said. That approximate number includes the listings of all local realtors.“The area that we have seen the largest decrease in listings is in the condo market; condo inventory has fallen from 60 percent of the total number of properties for sale, down to 40 percent,” she noted.So does that mean condos are selling or just removed from the market?“Our records indicate that 18 percent of the total sales in 2012 were condos,” she said, and: “Last year there were approximately 200 transactions!”Ms Thompson pointed out, though, that the number of real estate transactions in Bermuda has fallen drastically in the last couple of years.“In fact, in recent history the highest recorded number of transactions Island-wide (excluding fractional sales) was as far back as 2001 (650 transactions),” she said.Based on Island-wide averages for 2012, condos on average sold for $650,000 which is comparable to 2003-4 prices.Single family homes are still “coveted by Bermudians”, she said, with an average price of approximately $1,400,000 which is comparable to 2005 averages.And land prices averaged around $500,000 which is close to 2004 averages.Ms Thompson added: “Another key component affecting real estate decisions is access to accurate data regarding the market through an experienced real estate agent.“Without accurate data, it is nearly impossible to analyse/comprehend the market in Bermuda. Gone are the days when an agent can effectively practice in all market segments. Coldwell Banker Bermuda Realty maintains teams who focus on individual market segments so that they can provide expert knowledge based on real time market intelligence ...“What the average layman may believe about the market and what the statistics support are often at opposite ends of the spectrum.”She noted: “In today’s market some purchasers seem to think they can make ridiculously low offers and the vendors are so desperate for a sale they will take anything … that is not the case. In fact, at Coldwell Banker Bermuda Realty our average list to sale price ratio is 92%. That means that we typically price property very close to the actual final selling price, which is good for sellers who want to know that they received the best price for their home in today’s market.“Finally, once you have made the decision to buy or sell you need to find out what is happening in the market right now? While we can not speak for the entire industry it is exciting to say that activity has increased at Coldwell Banker Bermuda Realty with more viewings … offers and sales! There is a buzz in the office that has been missing for quite a while. And yes, multiple offers (some over the asking price) on correctly priced properties are occurring from properties as low at $90,000 to those as high as $2,400,000 and everything in between.