Q1 2010 Sunriver Quarterly update

It clearly feels like prices have bottomed in the Sunriver area and the buyers know it and are starting to look much more seriously.  Pricing is still the key as the buyers are clearly focused on value and cost per square foot.  The inventory is down to 129 homes from a high last summer of 230.  Most brokers in the area feel that we will see a large number of new listing in the next few months and we will most likely return to over 200 homes on the market by early summer.  With the large number of homes on the market I do not believe we will see prices begin to move up anytime soon.

In Q4 09 we started to see a return of the buyers to the Sunriver market.  As you can see from my previous blog update on the final numbers for Q4,  the numbers for Q4 09 showed a significant improvement over Q4 08 both in quantity of transactions and dollar volume of transactions.  Q1 10 also benefited from a strong Q4 with a significant carry-over of pending deals.

Q1 10 Sunriver currently has 6 closed deal and 16 pending deals for an estimated $ volume of $9.288 million.  Thats a great start to the quarter and we are only 31 days in.  Q1 09 had 20 closed transactions for a $ volume of $9.55 million, so it looks like we are on track to beat last years Q1 numbers.


Crosswater and Caldera had some activity in Q4 09 with 1 lot sale in Caldera, 1 cabin and 2 homes.  Crosswater had 2 home sales.  Currently in Q1 10 there is one pending sale in Caldera so far this quarter compared to 2 cabins and 1 home sale in Q1 09.


Please feel free to contact me if you have any questions about this data.


John.

Sunriver Real Estate Q4 2009 - Final

We had a great quarter in Sunriver with the best numbers in over 2 years!!!  Closed 42 transactions for a total of $16.625 million in volume.  This is just homes and does not include condo's, shared ownership or land sales.  Last year in Q4 we did just over $14 million with 27 transactions so this quarter was clearly the turning point up from the bottom of this cycle.  We still have 160+ homes on the market and with the economy improving we expect to see a lot of new listings coming on in the spring of 2010.

With interest rate still around 5% if you were thinking about making a move now is the time!!!

Q1 10 is also starting strong and will most likely eclipse Q1 10's numbers of $9.1 million and 18 transactions as we already have 13 pending deals totaling over $6 million. 

Sunriver Real Estate Q4 2009 progress report #2

With the addition of 12 new deals in November 2009 the  total potential for Q4 2009 has gone up to 43 transactions.  Now I am sure they will not all close before the end of December but we have already done 27 deals this quarter, so we will surely beat last year as we only did 27 all quarter.  We have 16 pending deals that could close before 12/31/09.  That would give us over $16 million in volume, but as I already pointed out that is unlikely, but getting over last years $14.3 million is not out of the question.  These numbers are for homes and lots, and do not include condo's.  Condo sales continue to be very slow.

The good news here is that we are getting traffic and they are buying.  Q4 will hopefully push a nice carry over of pending deals into Q1 10 and keep the momentum into next year.  All the national numbers are showing continued improvement and interest rate are still below 5%.

Lets hope the holiday's and early snow in the mountains bring in the buyers!!!

Happy holidays.

John.

Sunriver Real Estate Q4 2009 progress report

The $10 million carry over of 23 pending deals and 8 new deals in October has us with a current potential of 31 transactions totaling and estimated $12.4 million in volume for Q4 09. What we would really like to see is the quarter top $14.3 million which would give us our first quarter over quarter gain in over a year.

Sunriver has 191 homes currently on the market. That number will most likely drift down over the winter from the summer high of 232. Most Brokers in Central Oregon believe that the housing market here has bottomed out and that we are bumping along the bottom. If the economy continues to improve, unemployment levels off and starts to improve and the banks start lending again we will start to see housing improve.

I will update these numbers at the end of November, Happy Halloween!!!!

Sunriver Real Estate Q3 2009 final results

We closed out Q3 09 with a transaction volume of $10.3 million and 27 closed deals. By comparison Q3 08 had 25 closed deals and $12. 5 million in volume. Q3 09 had a carryover of pending deals from Q2 of $3.3 million and 10 transactions. The good new is that the carry over from Q3 09 to Q4 09 is 23 transactions and $10 million in volume. Q4 08 had 27 transactions and 14.3 million in volume, with the big carry over from Q3 09 to Q4 09 we could finally see a quarter over quarter $ volume increase in Q4 numbers.

Sorry for all the numbers, but they do tell the story. We are selling as many or more home than we sold last year in Sunriver, they are just less expensive homes. The market is improving because sellers are pricing there homes to sell and interest rates are now finally back below 5%.

The combination of low prices and low interest rates makes this truly the best of times if you are a buyer.

Sunriver Q3 2009 coming to and end

The good new is we have gotten to 25 transactions this quarter and there is still time to get a few more closed. We are at about $9,8 million in gross sales. There are currently 19 pending transactions that will role to Q4 for total of $8 million.

We are still not seeing any action at the high end of the market in Sunriver, but assuming the recovery continues we should see that end of the market pick up in 2010.

I will update with final numbers around the 3rd of October for Q3 09.

Sunriver Real Estate - A tale of two Summers

The Summer real estate season in Sunriver has ended. 2009 saw a 34% decline in the value of homes sold compared to 2008. Interestingly 2009 had 24 transactions ( $8.8 million) and 2008 had 27 ($13.4 million), so the actual number of buyers was not significantly different. Buyers in 2009 were clearly taking advantage of the availability of many more low priced homes on the market than we have seen in a number of years in Sunriver. Much of this activity took place late in the summer selling season as people began to feel that the market in Sunriver had bottomed out.

Another piece of good new is that we closed out the season with 21 pending transaction totaling $9.4 million. These transactions should close in the next few months.

We still have 70 homes for sale in Sunriver under $400K. This will continue to give the bargain hunters lots to choose from as we move into the fall.

High end properties and lot sales continue to be hardest hit part of the market. As the economy continues to improve we do expect this part of the market to start to show some signs of life.