· Current Home Inventory in Big Canoe is now at 208 vs. 215 in December. Please note inventory numbers below.
· Days on market for January were 116 vs. 193 in December (Homes sold). 246 Days on market (Homes for sale).
· Big Canoe’s overall month’s supply of inventory is 30.4 months vs. 25.6 last month.
· 5 homes have sold YTD vs. 4 homes YTD January 2009 vs. 4 homes YTD January 2008 vs. 2 homes YTD in January 2007 vs. 9 Homes YTD January 2006.
· The average sales price in January was $376,000 compared to $302,750 in January 2009.
Big Canoe Community Homes Sold YTD 2010:
|
Price Range
|
# of Homes Sold in Price Range
|
% Representing Homes Sold
|
Homes Listed
|
% Listed
|
|
Less than $200K
|
1
|
20%
|
13
|
6%
|
|
$201K - $250K
|
1
|
20%
|
12
|
6%
|
|
$251K - $300K
|
0
|
0%
|
22
|
11%
|
|
$301K - $350K
|
0
|
0%
|
23
|
11%
|
|
$351K - $400K
|
1
|
20%
|
32
|
15%
|
|
$401K - $450K
|
1
|
20%
|
8
|
4%
|
|
$451K - $500K
|
0
|
0%
|
19
|
9%
|
|
$501K - $550K
|
0
|
0%
|
10
|
5%
|
|
$551K - $600K
|
0
|
0%
|
13
|
6%
|
|
$601K - $700K
|
0
|
0%
|
24
|
12%
|
|
$701K - $800K
|
0
|
0%
|
8
|
4%
|
|
$801.0 >
|
1
|
20%
|
24
|
12%
|
|
TOTAL
|
5
|
100%
|
208
|
100%
|
Summary:
Overall volume (dollars) in The Community of Big Canoe is up 16.42% (+$364.6k) vs. YTD 2009.
Well, we are off to a better start vs. 2009 in both units and dollars. Hopefully this trend will beat what the National Association of REALTORS® (NAR) has just released for their 2010 forecast. It is as follows: Existing Home Sales will be up 9.9%; New Homes up 40.2% (cleaning the pipeline); New Construction up 8.8%. Existing home prices will rise 3.7% and the same for New Construction prices (+3.7%). Note: we believe Big Canoe will beat the NAR forecast in 2010. Be with us as we market your home for optimum exposure and a sold sign.
NAR also predicts interest rates will rise close to 6% later this year (still not bad). Spread the word: The bottom is finally here (prices will rise) and so will rates.
One final note: Like the stock market, we only know when the market has bottomed when it’s on its way back up. Well, if you know of anyone sitting on the sidelines, tell them it’s time to jump in!
And remember, we love referrals!
Until next time,
Tom and Kelly
Owner / Broker
Century 21 Best Mountain Properties
Source: Broker Metrics / FMLS
