This is going to be a lot of numbers. We closed 35 transactions in the 2nd quarter for a total sales volume of $12,928,086. This number was 700K lower than the 1st quarter of 2010. With prices continuing to decline and the number of homes on the market increasing sharply to a current number of 224 I was surprised we did not see more sales. The good news is Summer has finally arrived and the traffic of buyers is way up. We only have 11 pending deals rolling over into the 3rd quarter, but they do total $5 million in volume and the average price is up over $100k from last quarter. The selling price as a percentage of listing price has held around 93% for about a year.
Q3 2009 had only 27 transactions and a total volume of $10.2 million, so the good new is we have a good start on beating the Q3 numbers for this year. Sunriver is booked up heavy for the next couple of months and with interest rates still holding at record lows we should see an up tick in buyer traffic over the next few months. The high end buyers still seem to be on the sidelines as we have not had a sale over 875K this quarter.
Caldera and Crosswater have not seen much activity this quarter. Caldera sold 3 lots and 1 home and Crosswater had 1 lot sale. Caldera continues to have a steady stream of new construction by existing lot owners and we do think that now with much more aggressive pricing that we will see some of the existing home inventory in Caldera sell this Summer.
For those of you that are already owners in Sunriver I do hope you will support the new pool and rec center vote. I strongly believe that it will have a very positive effect on the future values of Sunriver real estate and help bring people back to Sunriver as they see we are investing in our community. I own 3 homes in Sunriver and I will be voting yes.
Please call me if you have any questions on this data.
John
541-390-3600
jdw48@mac.com
Friday, July 2, 2010
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