It clearly feels like prices have bottomed in the Sunriver area and the buyers know it and are starting to look much more seriously. Pricing is still the key as the buyers are clearly focused on value and cost per square foot. The inventory is down to 129 homes from a high last summer of 230. Most brokers in the area feel that we will see a large number of new listing in the next few months and we will most likely return to over 200 homes on the market by early summer. With the large number of homes on the market I do not believe we will see prices begin to move up anytime soon.
In Q4 09 we started to see a return of the buyers to the Sunriver market. As you can see from my previous blog update on the final numbers for Q4, the numbers for Q4 09 showed a significant improvement over Q4 08 both in quantity of transactions and dollar volume of transactions. Q1 10 also benefited from a strong Q4 with a significant carry-over of pending deals.
Q1 10 Sunriver currently has 6 closed deal and 16 pending deals for an estimated $ volume of $9.288 million. Thats a great start to the quarter and we are only 31 days in. Q1 09 had 20 closed transactions for a $ volume of $9.55 million, so it looks like we are on track to beat last years Q1 numbers.
Crosswater and Caldera had some activity in Q4 09 with 1 lot sale in Caldera, 1 cabin and 2 homes. Crosswater had 2 home sales. Currently in Q1 10 there is one pending sale in Caldera so far this quarter compared to 2 cabins and 1 home sale in Q1 09.
Please feel free to contact me if you have any questions about this data.
John.
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