September 2008 Market Trends for the Big Canoe Community:
Current Home Inventory in Big Canoe is now at 245 vs. 250 in August. Please note inventory numbers below.
Days on market for September were 183 vs. 182 in August. (Homes sold) 210 Days on market… homes for sale.
Big Canoe’s overall month’s supply of inventory is … 30.1 months vs. 23.0 last month.
Average listing-to-sold ratio YTD is 89.6%.
Note: C21 sales ratio is 94.0% 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?
55 homes have sold YTD vs. 76 homes YTD September 2007; vs. 115 homes YTD September 2006 and vs. 157 homes YTD in September 2005.
The average sales price in September was $431,673 compared to $365,670 in September 2007… an 18% increase.
Market Trends for the Community of Big Canoe Summary:
Overall volume (dollars) in The Community of Big Canoe is down 28.73% vs. YTD 2007. We are pleased to say that our business is up 15.05%.
Months of inventory have jumped to approx. 2.5 years. We had been seeing downward movement in this number for the past few months. Remember, 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 38% of our homes sold this year are under $300,000… 58% 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 not seeing activity in the $400,000 price point. Folks, this is a good thing.
Not much has changed since last month. We still need activity above $400,000 to increase…and it will. We actually saw sales in Big Canoe soften way before many other markets. Ultimately, we will bounce back much sooner. Frankly, we are looking for an upswing in 2009.
Keep your home looking good; be ready for that ultimate buyer.
Remember; make sure home is priced right. If you have to work short you’ll make it up on the other side…everything is relevant. And you are right – the real estate market will jump back.
Till next time,
Tom and Kelly
Owner / Broker
Century 21 Best Mountain Properties
Source: Broker Metrics / FMLS
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