The Summer season has ended in Sunriver. We had a very good 3rd quarter in
real estate. Q2 2011 produced $11.4
million in transactions, Q3 2011 produced $13.8 million in transactions. That represents a 21% increase in dollar
volume from Q2 to Q3. The other really
good piece of news is that we have 20 transactions on the books for Q4 totaling
an estimated $8.4 million of carry over from Q3 2011.
Of the 49
transactions in Q3 2011 25 of them were homes.
The average price per sqft was down from the $193 last quarter to $187,
but the average percentage of sales price remained the same at 93%. We did have one home that sold for very close
to $1 million this quarter and we have several pending sales for Q4 that are in
the high 6 figures. This return of the
high-end buyer should start to improve our average home values if the trend
continues.
It was very clear
that the continuing improvements in the Village, the now completed 4 lane
freeway from Bend to Sunriver and the buzz surrounding the SHARC have helped
sell real estate this year. With the
SHARC opening next year I am confident we are going to see this trend
continue. The Sunriver owners have
continued to invest in the community during some of the most difficult times we
have seen in this country in recent years.
When we do see a turn in this economy as a community we are going to
have one of the fastest recoveries.
Thanks, John
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