March 2009 Market Trends for the Big Canoe Community:
· Current Home Inventory in Big Canoe is now at 250 vs. 231 in February. Please note inventory numbers below.
· Days on market for March were 250 vs. 328 in February. (Homes sold) 186 Days on market… homes for sale.
· Big Canoe’s overall month’s supply of inventory is … 36.1 months vs. 49.8 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?
· 14 homes have sold YTD vs. 16 homes YTD March 2008 vs.26 homes YTD March 2007 vs. 40 homes YTD in March 2006.
· The average sales price in March was $315,000 compared to $335,434 in March 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
|
4
|
29%
|
14
|
6%
|
|
$201K - $250K
|
1
|
7%
|
15
|
6%
|
|
$251K - $300K
|
1
|
7%
|
28
|
11%
|
|
$301K - $350K
|
1
|
7%
|
27
|
11%
|
|
$351K - $400K
|
3
|
21%
|
38
|
15%
|
|
$401K - $450K
|
2
|
14%
|
22
|
9%
|
|
$451K - $500K
|
0
|
0%
|
20
|
8%
|
|
$501K - $550K
|
1
|
7%
|
14
|
6%
|
|
$551K - $600K
|
0
|
0%
|
13
|
5%
|
|
$601K - $700K
|
1
|
7%
|
21
|
8%
|
|
$701K - $800K
|
0
|
0
|
14
|
6%
|
|
$801.0 >
|
0
|
0
|
24
|
10%
|
|
TOTAL
|
14
|
100%
|
250
|
100%
|
Summary:
Overall volume (dollars) in The Community of Big Canoe is down 54.7%(-$6.9M) vs. YTD 2008.
In reviewing the above data, if you have a home priced in the $350.0 to $400.0K range, listing inventory has increased by 10 homes to 38. If your home is in this sweet spot (21% of homes sold YTD) it’s of utmost importance that you are priced right and that location and condition have been taken into consideration.
As a company, we are seeing buyer looker activity picking up. A lot of lookers, but people are overly cautious about plunking the money down. First time buyer activity is up nicely, with so many incentives out there, that is understandable. This will cause a trickle down movement enabling buyers to step-up to Big Canoe…it just takes a little time.
We cannot express how pleased we are with our new website. We continue to get new prospects daily. Most importantly, they are staying. We now have over 70 people getting daily updates to new listings. Remember, in a resort community, it can take up to two years (sometimes longer) for a buyer to make a move. Bottom line: with our new website and lead router…we have them as prospects.
Our new website and lead router are the most recent technology/marketing investments we have made. We continue to invest while our competition pulls back. Just take a look at the print advertising in the Smoke Signal. Many of our competitors are giving up; we will not let our clients down.
With over 84% of home buyers spending 2 weeks or more searching the internet before contacting a real estate professional, you have to give them the tools. This is just one of the ways we get the job done.
And remember: www.BCHomesAndLand.com for all your real estate needs.
Until next time,
Tom and Kelly
Owner / Broker
Century 21 Best Mountain Properties
Source: Broker Metrics / FMLS
