· Current Home Inventory in Big Canoe is now at 241 vs. 241 in September. Please note inventory numbers below.
· Days on market for October were 154 vs. 65 in September (Homes sold). 228 Days on market (Homes for sale).
· Big Canoe’s overall month’s supply of inventory is … 64.2 months vs. 28.3 last month.
· 64 homes have sold YTD vs. 63 homes YTD October 2008 vs. 88 homes YTD October 2007 vs. 138 homes YTD in October 2006 vs. 172 Homes YTD October 2005.
· The average sales price in October was $347,500 compared to $396,357 in October 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
|
11
|
17%
|
16
|
7%
|
|
$201K - $250K
|
5
|
8%
|
15
|
6%
|
|
$251K - $300K
|
10
|
16%
|
25
|
10%
|
|
$301K - $350K
|
10
|
16%
|
23
|
10%
|
|
$351K - $400K
|
8
|
13%
|
32
|
13%
|
|
$401K - $450K
|
5
|
8%
|
18
|
7%
|
|
$451K - $500K
|
2
|
3%
|
22
|
9%
|
|
$501K - $550K
|
8
|
13%
|
15
|
6%
|
|
$551K - $600K
|
2
|
3%
|
13
|
5%
|
|
$601K - $700K
|
2
|
3%
|
24
|
10%
|
|
$701K - $800K
|
1
|
2%
|
14
|
6%
|
|
$801.0 >
|
0
|
0%
|
24
|
10%
|
|
TOTAL
|
64
|
100%
|
241
|
100%
|
Summary:
Overall volume (dollars) in The Community of Big Canoe is down 25.32% (-$8.2M) vs. YTD 2008.
Although unit sales (64 vs. 63) are up YTD, you can see that the average sales price is down almost $50.0k. And yes, for those of you with homes on the market below $400.0k, we saw 4 more homes close in the month of October. Homes in Big Canoe priced below $400.0k now represent 71% of all closed transactions YTD.
In an effort to create step up home activity in Big Canoe, a couple of things have happened.
#1) The Beechler Group (Tom & Kelly Beecher & Team) have officially launched their new website, www.MountainRealEstateLIfestyles.com. Yes, it’s called Lifestyles, for most of us moved to Big Canoe to change/improve our “Lifestyles”. Check it out, read the blog, tell us what you think of the site. Note: We are still working on the “Local Resources”.
#2) Repeat & First Time Buyer Tax Credits: Did you hear congress extended the First Time Home Buyer Credit AND added a little for those of us who already own real estate? The First Time Home Buyer Credit is up to $8,000 and the Repeat Home Buyer Credit is up to $6,500. If you could purchase a home and get back $8,000 MAYBE it is time to think about making a purchase!
In the meantime, it’s still a buyer’s market and one of our Buyer Specialists would love to help you or someone you know find your first or next home.
Remember, most buyers that look at real estate during the next six weeks are usually very interested. So once again, make sure your home shows at its “Best”!
Finally, we wish all of you a very, very “Happy Thanksgiving”.
And remember, we love referrals!
Until next time,
Tom and Kelly
Owner / Broker
Century 21 Best Mountain Properties
Source: Broker Metrics / FMLS
