Market Trends - October 2008

October 2008 Market Trends for the Big Canoe Community:

Current Home Inventory in Big Canoe is now at 249 vs. 245 in September. Please note inventory numbers below.

Days on market for October were 116 vs. 183 in September. (Homes sold) 195 Days on market… homes for sale.

Big Canoe’s overall month’s supply of inventory is … 43.2 months vs. 30.1 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?

63 homes have sold YTD vs. 88 homes YTD October 2007; vs. 138 homes YTD October 2006 and vs. 172 homes YTD in October 2005.

The average sales price in October was $369,083 compared to $493,197 in October 2007.







Market Trends for the Community of Big Canoe Summary:

Overall volume (dollars) in The Community of Big Canoe is down 30.70% vs. YTD 2007. We are pleased to say that our business is up 15.05%.

Months of inventory has jumped to 43.2 months. We had been seeing downward movement in this number for the past few months. Remember, in January, we had a 40 month supply… this is now the highest month all year.

We began to increase our optimism in September which resulted in October being the best month we had all year. In addition, residential resales nationally rose 5.5% and new construction sales rose 2.2%. Pending sales for November looked good, then November 1st came and it stopped. We have seen a dramatic fall off of potential buyer activity. We are hoping is it just because of the holiday season.

As a company, we have sold over 23% of the residential resales (does not include new construction) in Big Canoe. Our market share continues to increase for reasons such as multiple web-sites, marketing outside of the gate, strong databases, systems that work & the most highly trained sales professionals in this market, to name just a few.

You never know when a buyer is going to come through the door so always have your home ready.

And remember, Location, Condition & Price must all line up to sell your home.


Till next time,

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