· Current Home Inventory in Big Canoe is now at 220 vs. 241 in October. Please note inventory
numbers below.
· Days on market for November were 378 vs. 154 in October (Homes sold). 237 Days on market (Homes for sale).
· Big Canoe’s overall month’s supply of inventory is … 24.2 months vs. 64.2 last month.
· 65 homes have sold YTD vs. 71 homes YTD November 2008 vs. 98 homes YTD November 2007 vs. 154 homes YTD in November 2006 vs. 174 Homes YTD November 2005.
· The average sales price in November was $285,000 compared to $484,600 in November 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
|
11
|
17%
|
14
|
7%
|
|
$201K - $250K
|
5
|
8%
|
12
|
6%
|
|
$251K - $300K
|
11
|
17%
|
24
|
10%
|
|
$301K - $350K
|
10
|
15%
|
23
|
10%
|
|
$351K - $400K
|
8
|
12%
|
31
|
13%
|
|
$401K - $450K
|
5
|
8%
|
15
|
7%
|
|
$451K - $500K
|
2
|
3%
|
18
|
9%
|
|
$501K - $550K
|
8
|
12%
|
13
|
6%
|
|
$551K - $600K
|
2
|
3%
|
12
|
5%
|
|
$601K - $700K
|
2
|
3%
|
22
|
10%
|
|
$701K - $800K
|
1
|
2%
|
12
|
6%
|
|
$801.0 >
|
0
|
0%
|
24
|
10%
|
|
TOTAL
|
65
|
100%
|
220
|
100%
|
Summary:
Overall volume (dollars) in The Community of Big Canoe is down 26.41% (-$8.6M) vs. YTD 2008.
You’re reading it correctly…only one home closed in the month of November in Big Canoe. On the plus side, overall inventory has fallen by 21 homes. The biggest drop being in the $350.0k to $550.0k price range.
On a positive note: From a National level perspective, pending home sales have risen for the last nine months in a row. This is a first for this Index since its inception in 2001. Additionally, existing home sales surged 10.1% in October.
Last month we reported on the Repeat and First Time Home Buyer Tax Credit. For many of us in Big Canoe, the $6,500 tax credit has some real advantages. This tax credit applies to those of us who have lived in our current home, five out of the last eight years on a full-time basis. If this is you, you can use this credit to move up or down. Note: you do not have to sell your current home to do so! Please pass this information on to friends and family. For more information, go to our website at www.TheBeechlerGroup.com and click on our Tax Credit Icon.
With the holidays upon us, activity has slowed, just like it does every year. Use this time to get your home in tip-top shape for the first of the year.
In closing, we would like to thank those of you who looked at our new website. Your positive comments were most appreciated.
Finally, we wish all of you a very “Merry Christmas”.
And remember, we love referrals!
Until next time,
Tom and Kelly
Owner / Broker
Century 21 Best Mountain Properties
Source: Broker Metrics / FMLS
