· Current Home Inventory in Big Canoe is now at 215 vs. 220 in November. Please note inventory numbers below.
· Days on market for December were 193 vs. 378 in November (Homes sold). 250 Days on market (Homes for sale).
· Big Canoe’s overall month’s supply of inventory is … 25.6 months vs. 24.2 last month.
· 79 homes have sold YTD vs. 73 homes YTD December 2008 vs. 112 homes YTD December 2007 vs. 166 homes YTD in December 2006 vs. 191 Homes YTD December 2005.
· The average sales price in December was $220,000 compared to $476,000 in December 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
|
18
|
23%
|
13
|
6%
|
|
$201K - $250K
|
6
|
8%
|
12
|
6%
|
|
$251K - $300K
|
12
|
15%
|
27
|
13%
|
|
$301K - $350K
|
13
|
16%
|
21
|
10%
|
|
$351K - $400K
|
9
|
11%
|
31
|
14%
|
|
$401K - $450K
|
6
|
8%
|
15
|
7%
|
|
$451K - $500K
|
2
|
3%
|
16
|
7%
|
|
$501K - $550K
|
8
|
10%
|
13
|
6%
|
|
$551K - $600K
|
2
|
3%
|
11
|
5%
|
|
$601K - $700K
|
2
|
3%
|
22
|
10%
|
|
$701K - $800K
|
1
|
1%
|
11
|
5%
|
|
$801.0 >
|
0
|
0%
|
23
|
11%
|
|
TOTAL
|
79
|
100%
|
215
|
100%
|
Summary:
Overall volume (dollars) in The Community of Big Canoe is down 11.49% (-$3.9M) vs. YTD 2008.
Wow, 73% of the homes in Big Canoe sold for under $400,000. In 2008, the number was 56%. So the question is – Are there buyers? Yes, we sold six more homes in 2009, but at a much lower price point.
Will this momentum continue? We think so! The Real Estate Confidence Index (RECI) jumped 7.87% in December. The RECI is now at 6.03; on a scale of 1-10 (1 being “bad” and 10 being “good”) we feel the upward momentum will continue into the summer. There are many elements in our favor, such as Tax Credits, Interest Rates, Aggressive Pricing and Inventory. Let’s all spread the “word”.
Well, 2009 is over. As an industry, it’s glad it’s over. Many brokers closed their doors, many agents just gave up. As your broker/agent, we never gave up. We stepped up training/coaching, we increased our print advertising campaign, we refined our listing marketing tools, we improved our processes. Lastly, we launched two new websites. Yes, we invested in our business to be ready for the market up tick. And it will happen!
In closing, we thank all of our clients for entrusting us with the buying or selling of your home. Day in and day out, we look for new ways to improve our business, this we do for you. We would also like to acknowledge our agent partners…they’re the BEST!
And remember, we love referrals!
Until next time,
Tom and Kelly
Owner / Broker
Century 21 Best Mountain Properties
Source: Broker Metrics / FMLS
