· Current Home Inventory in Big Canoe is now at 272 vs. 250 in April. Please note inventory numbers below.
· Days on market for May were 109 vs. 87 in April (Homes sold). 171 Days on market (Homes for sale).
· Big Canoe’s overall month’s supply of inventory is … 28.0 months vs. 38.7 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?
· 24 homes have sold YTD vs. 31 homes YTD May 2008 vs. 31 homes YTD May 2007 vs. 75 homes YTD in May 2006.
· The average sales price in May was $325,000 compared to $234,000 in May 2008.
Big Canoe Community Homes Sold YTD 2009:
|
Price Range
|
# of Homes Sold in Price Range
|
% Representing Homes Sold
|
Homes Listed
|
% Listed
|
|
Less than $200K
|
6
|
25%
|
13
|
5%
|
|
$201K - $250K
|
2
|
8%
|
18
|
7%
|
|
$251K - $300K
|
2
|
8%
|
32
|
12%
|
|
$301K - $350K
|
3
|
13%
|
24
|
9%
|
|
$351K - $400K
|
3
|
13%
|
40
|
15%
|
|
$401K - $450K
|
3
|
13%
|
22
|
8%
|
|
$451K - $500K
|
0
|
0%
|
25
|
9%
|
|
$501K - $550K
|
3
|
13%
|
17
|
6%
|
|
$551K - $600K
|
0
|
0%
|
15
|
6%
|
|
$601K - $700K
|
1
|
4%
|
20
|
7%
|
|
$701K - $800K
|
1
|
4%
|
19
|
7%
|
|
$801.0 >
|
0
|
0%
|
27
|
10%
|
|
TOTAL
|
24
|
100%
|
272
|
100%
|
Summary:
Overall volume (dollars) in The Community of Big Canoe is down 35.98% (-$5.0M) vs. YTD 2008.
So what about May? Well, we added 22 more homes to our list of growing inventory. That’s almost a 10% increase in one month. 36% of that increase was in $601.0k and above. Homes under $200,000 now represent 25% of the homes sold.
The sweet spot for homes sold is under $450,000. This now represents 80% of homes sold in Big Canoe YTD.
As we indicated in April…buyer activity is picking up. Indeed it has! The contracts have been coming in. If everything goes right, we will do more volume in June of 2009 vs. 2008. We are crossing our fingers for that to continue.
We would like to review an important set of numbers. Days on market for homes sold are 109. Days on market for homes still for sale are 171. So what does this mean? Well, it’s quite simple! The newer inventory is selling quicker than the old. We talk about it all the time…if your home’s condition is above average, your location/curb appeal is desirable and you price it correctly, it will sell.
While print campaigns no longer sell homes as in the past, we still continue an aggressive campaign here. More importantly…our website is working. Just go to the internet, go to “Google Search” and type in Big Canoe Real Estate…we are always on the front page. Click on www.BestMountainProperties and you will see your home under “featured listings”. This is where 84% of buyers begin their search. We have the tools to capture them.
Please pass the word! When you list with Century 21 Best Mountain Properties, you have not one or two, but 17 agents looking out for your interest.
Until next time,
Tom and Kelly
Owner / Broker
Century 21 Best Mountain Properties
Source: Broker Metrics / FMLS
