We are now 2 months into the new year. The activity level has picked up significantly in February and we have gone from 13 properties under contract at the end of January to 28 at the end of February. We have gone from 0 closed transactions to 8 closed transactions. Assuming we could close all the the currently pending transaction this quarter we would come in at about $9.7 million in volume for the quarter. That is of course not very likely, we will most likely come in around $6-7 Million. The homes that have sold and closed so far this year are running at 95% of sales price and $170 per sqft. I do not expect these number to hold and I think our market is more in the $180-200 per sqft range once the quarters numbers are all in.
The inventory in Sunriver is at the lowest point ( 116 homes) of the year right now and we will start to see a large number of new listings coming on the market over the next few months. I believe we are going to see a good selling season this year as the economy continues to improve and unemployment inches lower.
If you have any questions about buying, selling, listing, renting or just have a question don't hesitate to call me or send email.
John Watkins
jdw48@mac.com
541-390-3600
Monday, February 28, 2011
Thursday, February 3, 2011
Sunriver Q1 2011 update
Real estate in Sunriver has been slow through most of January 2011. We currently have 13 homes under contract and 2 homes sold so far this year. That gives us approximately $5.5 million in volume with an average sales price of $369,000. We are running at $185 per sqft and about 330 days on the market. The first quarter of 2010 we closed 27 homes at an average sales price of $471,000 for a little over $12 million in volume.
The buyer traffic has picked up dramatically in the last 2 weeks and most of the broker's I talk to have had the same experience. Our inventory of homes is always at its lowest point in January with only 125 homes on the market. I do expect to see a large number of listings come on the market over the next few months.
If you are thinking about listing now is the time to get started and if you are a buyer, keep your eyes open and check the internet often as we should see a lot of new inventory over the next 3 months. I do believe we are at the bottom of this market and this is a great time to buy.
John Watkins
Principal Broker
Bennington Properties
jdw48@me.com
541-390-3600
The buyer traffic has picked up dramatically in the last 2 weeks and most of the broker's I talk to have had the same experience. Our inventory of homes is always at its lowest point in January with only 125 homes on the market. I do expect to see a large number of listings come on the market over the next few months.
If you are thinking about listing now is the time to get started and if you are a buyer, keep your eyes open and check the internet often as we should see a lot of new inventory over the next 3 months. I do believe we are at the bottom of this market and this is a great time to buy.
John Watkins
Principal Broker
Bennington Properties
jdw48@me.com
541-390-3600
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