Market Trends Report - August 2008

August 2008 Market Trends for the Big Canoe Community:

Current Home Inventory in Big Canoe is now at 250 vs. 250 in July. Please note inventory numbers below.

Days on market for August were 182 vs. 121 in July. (Homes sold) 204 Days on market… homes for sale.

Big Canoe’s overall month’s supply of inventory is … 23.0 months vs. 30.6 last month.

Average listing-to-sold ratio YTD is 89.0%.
Note: C21 sales ratio is 95.0% YTD. That’s a lot of money in your pocket. On a $400,000 home we would be saving you over $20,000.00. Why use any other broker for a decision so important?

46 homes have sold YTD vs. 61 homes YTD August 2007; vs. 106 homes YTD August 2006 and vs. 135 homes YTD in August 2005.

The average sales price in August was $263,750 compared to $500,000 in August 2007.






Market Trends for the Community of Big Canoe Summary:

Overall volume (dollars) in The Community of Big Canoe is down 33.04% vs. YTD 2007.

Months of inventory have dropped to approx. 2.0 years. We have seen downward movement in this number for the past few months. In January, we had a 40 month supply.

When you talk to most people who have never been to Big Canoe, they think we are an expensive community. Yet 36% of our homes sold this year are under $300,000… 59% under $400,000.

If you have been following the trend line, you have seen that sales this year started out in the lower price points and have worked upward. We are seeing fairly good activity in the $300.0-350.0K area & are now seeing activity in the $400,000 price point. Folks, this is a good thing.

In this kind of market, many people, if they see no activity, second guess whether or not they selected the right agent/broker. Well, we are pleased to announce that Century 21 Best Mountain Properties has captured (sold) 25.97% of the listings sold in Big Canoe (does not include new construction). The closest broker to us is…well, you guess who, at 14.42% & it goes down hill from there. As a matter of fact, our limited service broker is at 3.62%... I guess you get what you pay for.

Folks, the agents at “Best Mountain Properties” know what they are doing… Listen to them!

And remember, it’s all about, “Location, Condition and Price”.

And again, we have made another major investment for you. We are pleased to announce the addition of our “moving truck”. That’s right… “Buy or Sell” a home with our team and use our Moving Truck for FREE!

Till next time,

Tom and Kelly
Owner / Broker
Century 21 Best Mountain Properties
Source: Broker Metrics / FMLS