Sunriver Market update for Q2 09

We are 2 months into the 2nd quarter of 09 and Sunriver is still running significantly behind last years numbers. Currently in Sunriver we have closed 9 sales this quarter and there are 10 pending sales that should close this quarter. That would give us a total of $ 7 million in transaction for Q2 2009. Q2 2008 was an $18.5 million quarter with 38 transactions, we will not get anywhere close to that number this year.

Sunriver has a much better chance of seeing a year over year increase in sales in Q3 as the economy continues to improve. Q3 in 2008 was only $12.8 million in sales with 25 transaction closing. Q3 is typically our biggest period of activity and this year it should be a bell weather indicator to the question of "has the market bottomed"?

In Sunriver the under $500k property is the hot area with the current average running at $376K for properties sold. With the continuing disparity between conforming loans and jumbo's the high end market continues to be virtually non-existent.