February 2009 Market Trends for the Big Canoe Community:
· Current Home Inventory in Big Canoe is now at 231 vs. 231 in January. Please note inventory numbers below.
· Days on market for February were 328 vs. 186 in January. (Homes sold) 195 Days on market… homes for sale.
· Big Canoe’s overall month’s supply of inventory is … 49.8 months vs. 48.8 last month.
· Average listing-to-sold ratio in 2008 was 87.5%.
o Note: C21 sales ratio was 93.3%. 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?
· 11 homes have sold YTD vs. 9 homes YTD February 2008 vs. 7 homes YTD February 2007 vs. 10 homes YTD in January 2006.
· The average sales price in February was $432,500 compared to $433,608 in February 2008.
Big Canoe Community Homes Sold in 2009:
|
Price Range
|
# of Homes Sold in Price Range
|
% Representing Homes Sold
|
Homes Listed
|
% Listed
|
|
Less than $200K
|
3
|
27%
|
14
|
6%
|
|
$201K - $250K
|
1
|
9%
|
12
|
5%
|
|
$251K - $300K
|
1
|
9%
|
23
|
10%
|
|
$301K - $350K
|
1
|
9%
|
30
|
13%
|
|
$351K - $400K
|
3
|
27%
|
28
|
12%
|
|
$401K - $450K
|
1
|
9%
|
23
|
10%
|
|
$451K - $500K
|
0
|
0%
|
21
|
9%
|
|
$501K - $550K
|
0
|
0%
|
11
|
5%
|
|
$551K - $600K
|
0
|
0%
|
11
|
5%
|
|
$601K - $700K
|
1
|
9%
|
21
|
9%
|
|
$701K and greater
|
0
|
0%
|
37
|
16%
|
|
TOTAL
|
11
|
100%
|
231
|
100%
|
Summary:
Overall volume (dollars) in The Community of Big Canoe is down 48.8% vs. YTD 2008.
Months of inventory has risen to 49.8 months. Primary cause…slow YTD sales.
Well folks, YTD sales (units) were actually up by two. The unit trend is actually looking good vs. the past three years. Unfortunately the average sales price YTD is down significantly.
So, why is the average sales price down? There are many reasons, but top of the list are some people YTD have accepted truly low offer prices…just to move on! We have been hit by a few foreclosures, many buyers are shopping the below $350,000 price points and lastly, price points have slowly lowered in an attempt to be top of mind for buyers.
Dear friends/clients, if your home is on the market, look at the chart above, look at your price range, then call your agent to make sure that when a buyer comes along, that you make the top three list.
Remember, there are four elements that get you into the top three. They are your agent (if you listen to them), then most importantly, your homes condition, location and price. And price is a factor of condition and location.
We are seeing increased buyer activity. Please make sure your home is always ready for showings…you just never know when your buyer will come along.
Lastly, we need your help. Please explain to your friends that we are in a buyer’s market. This means the times are right to buy real estate. Rates are lower, prices are low and sellers are motivated.
And remember: www.BCHomesAndLand.com for all your real estate needs.
Thank you for entrusting us with the sales and marketing of your home,
Tom and Kelly
Owner / Broker
Century 21 Best Mountain Properties
Source: Broker Metrics / FMLS
