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.
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