Market Trends - February 2008

February 2008 Market Trends for the Big Canoe Community:

Current Home Inventory in Big Canoe is now at 234 vs. 229 in January. Please note inventory numbers below.

Days on market for February were 150 vs. 237 in January. (Homes sold) 185 Days on market… homes for sale.

Big Canoe’s overall month’s supply of inventory is … 24.7 months vs. 40.5 last month.

Average listing-to-sold ratio YTD is 90.3%.
Note: The Beechler Group’s sales ratio is 93.9% YTD. That’s a lot of money in your pocket. On a $400,000 home we would be saving you over $16,000.00. Why would anyone use a limited service broker (84.1%) vs. The Beechler Group?

9 homes have sold YTD vs. 7 homes YTD February 2007.

The average sales price in February was $450,000 compared to $417,500 in February 2007.






Market Trends for the Community of Big Canoe Summary:

Overall volume (dollars) in The Community of Big Canoe is down 34.04% vs. YTD 2008.

We still have over a two year supply of inventory with forty five more homes on the market vs. this same time last year.

We know that from where many of you are sitting it looks pretty bleak. But from our side, activity is improving, people are beginning to look again, rates are great and people are being told to buy houses.

We just returned from our Century 21 convention. Suzie Orman addressed us and said the market had bottomed. She indicated most states would see Real Estate improvement except Florida, California, Arizona, and Nevada.

But a bit of good news: The National Association of Realtors just reported existing home sales for February were up 2.9%.

In summary, 2008 will still be a difficult year, but we feel it will be better than 2007. By the way, our new Century21 office in The North Station is now open. Stop in and say hello.


Till next time,

Tom and Kelly
The Beechler Group

Source: Broker Metrics / FMLS