• Current Home Inventory in Big Canoe is now at 234 vs. 245 in November. Please note inventory numbers below.

• Days on market for December were 345 vs. 258 in November. (Homes sold) 197 Days on market… homes for sale.

• Big Canoe’s overall month’s supply of inventory is … 35.4 months vs. 64.0 last month.

• Average listing-to-sold ratio YTD is 87.5%.
  • Note: C21 sales ratio is 93.3% YTD. That’s a lot of money in your pocket. On a $400,000 home we would be saving you over $23,000.00. Why use any other broker for a decision so important?

• 73 homes have sold YTD vs. 112 homes YTD December 2007; vs. 166 homes YTD December 2006 and vs. 191 homes YTD in December 2005.

• The average sales price in December was $421,663 compared to $534,838 in December 2007.

Big Canoe Community Homes Sold in 2008:

 Price Range             # of Homes Sold in Price Range     % Representing Homes Sold     Homes Listed                  % Listed

Less than $200K                             5                                                  7%                                     14                              6%

$201K - $250K                              11                                                15%                                     13                              6%  

$251K - $300K                              11                                                15%                                     30                            13%

$301K - $350K                                8                                                11%                                     23                            10%

$351K - $400K                                6                                                  8%                                     28                            12%

$401K - $450K                                7                                                10%                                     18                              8%

$451K - $500K                                8                                                 11%                                    24                            10%

$501K - $550K                                3                                                  4%                                     13                              6%       

$551K - $600K                                2                                                  3%                                     10                              4%

$601K - $700K                                5                                                  7%                                     24                            10%

$701K and greater                          7                                                 10%                                    37                            16%

       TOTAL                                    73                                               100%                                  234                           100%

Market Trends for the Community of Big Canoe Summary:

Overall volume (dollars) in The Community of Big Canoe is down 33.93% vs. YTD 2007. We are pleased to say that our business is up 19.05%.  

Months of inventory have dropped to 35.4 months. One reason is that new home listings dropped almost 5%. Hopefully, these are unmotivated sellers taking their homes off the market.

The year is now behind us. And yes, being in the housing industry was not a lot of fun. However, through it all Century 21 Best Mountain Properties remained optimistic and never gave up. In doing so, we are pleased to announce that our company listed and sold more resale (not new construction) homes than any other broker in our Community of Big Canoe.

Have we hit bottom? We feel in our market we have! What’s more important is that as of this morning, you can get a 30 year fixed mortgage for 4.7%. Folks, spread the word. Rates are low, prices are low. If rates rise just 1% (one percent), it’s equivalent to a home going up 10% in price. The time to buy is “right now”.

In closing, we ask everyone to check out our new web site: www.BCHomesAndLand.com. Some people have asked us why not call it “BigCanoeHomesAndLand”. Well, the answer is that Big Canoe Company has copyrighted the words “Big Canoe”, prohibiting us, or you, from ever using the name “Big Canoe”. I think it has something to do with trying to monopolize the real estate sales in the Big Canoe Community. On a positive side, it’s not affecting us. Maybe as property owners we should just change the name of our community.

Till next time,

Tom and Kelly

Owner / Broker

Century 21 Best Mountain Properties

November 2008 Market Trends for the Big Canoe Community:

• Current Home Inventory in Big Canoe® is now at 245 vs. 249 in October. Please note inventory numbers below.

• Days on market for November were 258 vs. 148 in October. (Homes sold) 194 Days on market… homes for sale.

• Big Canoe’s overall month’s supply of inventory is … 64.0 months vs. 43.2 last month.

• Average listing-to-sold ratio YTD is 87.5%.
  • Note: C21 sales ratio is 93.7% YTD. That’s a lot of money in your pocket. On a $400,000 home we would be saving you over $20,000.00. Why use any other broker for a decision so important?

• 71 homes have sold YTD vs. 98 homes YTD November 2007; vs. 154 homes YTD November 2006 and vs. 174 homes YTD in November 2005.

• The average sales price in November was $480,750 compared to $383,381 in November 2007.

Big Canoe Community Homes Sold in 2008:

Price Range             # of Homes Sold in Price Range     % Representing Homes Sold     Homes Listed                   % Listed

Less than $200K                              5                                                7%                                     14                              6%

$201K - $250K                              11                                               15%                                     13                              5%  

$251K - $300K                              10                                               14%                                     29                            12%

$301K - $350K                                8                                               11%                                     24                            10%

$351K - $400K                                6                                                 8%                                     29                            12%

$401K - $450K                                7                                               10%                                     20                              8%

$451K - $500K                                7                                               10%                                     30                            12%

$501K - $550K                                3                                                 4%                                     14                              6%       

$551K - $600K                                2                                                 3%                                     11                              4%

$601K - $700K                                5                                                 7%                                     26                            11%

$701K                                              7                                               10%                                     35                            14%

TOTAL                                           71                                              100%                                   245                           100%

Market Trends for the Community of Big Canoe Summary:

Overall volume (dollars) in The Community of Big Canoe is down 31.53% vs. YTD 2007. We are pleased to say that our business is up 29.07%.  

Months of inventory has jumped to 64.0 months. We had been seeing downward movement in this number for the past few months. But remember, sales in December always slow down; thus a major build up of inventory.

Yes, selling activity for November and December traditionally slows down. However, if you do have a buyer looking at your home, they are probably pretty serious. So please make sure you’re home is always ready for that perfect showing.

Nationally, pending home sales are holding stable. A sign that many industry experts feel a bottoming out is starting to occur. Additionally, foreclosure activity for November showed a 7% decrease from the previous month. Again, industry experts feel the loan modification programs and new foreclosure processes are working in a positive fashion.

So yes, that’s what is going on in the market, but what are we doing? Well, after almost three months, we are getting ready to launch our new website. With 84% of all home purchasers spending two weeks researching on the internet before they contact an agent, we must continue to invest in this technology. We are all very excited… and we are sure you will be to. Be looking for www.BCHomesAndLand.com.

And remember, Location, Condition & Price must all line up to sell your home.

Till next time,

Tom and Kelly

Owner / Broker

Century 21 Best Mountain Properties

Source: Broker Metrics / FMLS