Sunriver Q3 2011 Real Estate Update

We are 1 month in the 3rd quarter of 2011.  It has felt very busy so far this quarter and the weather has finally turned to perfection.  We have 26 deals on the books for the quarter so far, for a total of approximately $7 million of transaction value.  There are 13 homes and 12  condo’s & timeshares and 1 lot.

The stats on the 13 homes are as follows, days on the market are down to around 130 from 193 last quarter and 242 last year.  If that holds up that is big.  Price per sqft is right at $192, exactly what it was last quarter, another indication that we may be at the bottom of this cycle.  Average sales price is up around $400k, last quarter was $373K.  We are still very early in the quarter, but I do believe we will show an improvement over last quarter and hopefully an improvement over the 3rd quarter which is going to take selling 28-30 homes this quarter.

If you have been in Sunriver recently you have seen how fast the new aquatic center is going up.  It is really creating a buzz and I feel strongly that it is helping us sell property.  They are giving tours on the weekends, you can sign up on the SROA website.  The place is going to be amazing.

Questions, comments, send me an email

Thanks, John

Sunriver Real Estate - Q2 2011 final numbers

    One month ago we had 35 transactions on the books ( sold and Pending) for the quarter.  We ended up closing 35 transaction in Q2 2011 for a total $ volume of $11,435, 710.  This was a nice up-tick from Q1 numbers, which was an up-tick from Q4 2010 numbers.  Maybe we have something going here.  We sold 26 homes in Q2 2011 at an average of $373K.  The good news was a significant drop in the days on the market to 192.  This is reflected by both the increased sales and a smaller inventory.
     The high end of the market continues to be very slow as the most expensive home sold in Sunriver in Q2 2011 was $641K.  We have some fantastic homes on the market in the $800K to $1 million range.  I will be very surprised if we don't see some action there this year.
     Sunriver is very busy right now and Bennington Properties rentals are having the best year they have had since 2008.   There does seem to be a lot of buyers in the market for Sunriver homes and I am assuming that Q3 2011 is going to be yet another improving quarter for sales volume.  We have 19 deals on the books, (sold or pending) as of July 10, 2011 for a total of over $5 million in volume.  Thats only 10 days into the quarter!!
     The new aquatic center (S.H.A.R.K.) is going up at light speed and is really creating a buzz.  It looks like it really will be on time for a Memorial Day 2012 opening.   I wrote the real estate article for the Sunriver Scene for August, watch for it, it has complete charts and data for the last 3 years by quarter.

Thanks, John.