Sunriver Real Estate Q2 2011 update

We have come to the end of the first month of the second quarter of 2011. The second half of April has not brought much activity to the Sunriver market. With tax time and the Easter weekend behind us we are finally looking forward to some good weather and the return of the buyers to this market. It is clear that interest rates are not going to be going up in any significant way anytime soon. The combination of a large inventory, low Interest rates, and prices that are down 38% from the top of the market in 2007 should help bring in the buyers.

We currently have 21 transactions on the books for this quarter (15 homes, 6 condos). Q2 last year we sold 20 homes, we have 15 on the books 1 month into this quarter so we have an excellent change of selling more homes this quarter. We are seeing the average price of a home sold this year is down about $80k from the same period last year. Smaller homes in good locations are the hottest sellers in the market currently. We do have a number of larger beautiful properties on the market at prices that should start to attract the high end buyers.

If you have not been to Sunriver recently the new aquatic center is really taking shape. I will have some pictures up on the blog in a few days ( need some sunshine).

Questions, comments, give me a call

John

Sunriver Real Estate Early Q2 2011 Update

We currently have 19 homes and condos either sold or pending so far this quarter. 15 of them are homes, we sold 21 homes last quarter so it looks like we have a good chance to see an up tick in volume this quarter. The current average sales price is $348k compared to last quarters $400k. It is still early in the quarter and we have time to see that number improve. The buyer traffic has picked up some, but we usually don't see a big jump until after tax season is over.

Sunriver Real Estate 1st Quarter 2011 Final numbers

     Well ladies and gentlemen we did it, we broke the downward slide, after 5 straight down quarters, Q1 2011 was just slightly better than Q4 2010 in home sales and the average price was up from $375K to $400K.  We closed 21 home transactions for a total of $8.4 million in volume.  If you read my latest article in the Sunriver Scene at the middle of March I forecasted a volume of $7.5 Million and 19 homes for Q1.  I am glad to say I was low.  The total for the quarter was $9.233 million if you include land, condo and shared owner sales.

     We have a carry over of $4.5 million in pending sales which should close in Q2 2011.  Based on the pick up in traffic  and the volume of new listing coming on the market I believe that Q2 will be even stronger that Q1 was.  The new listings are also coming on the market at very realistic prices, so it would seem that sellers understand that you have to be priced to sell in this market or you are still going to own it next year.

     The new buyers all seem to be very excited about the new aquatic center and I do think it is starting to create some energy in the market place.  When you drive by it on Beaver and see how big a project it is, it is exciting.   The weather is starting to show some signs of Sun and the golf courses are starting to green up  so come to Sunriver and buy something.   The home inventory is up to 140 homes, I still expect it to grow to well over 200 by mid summer.

Thanks,

John.