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.

Sunriver Market update for Q3 09

Early this quarter I was very hopeful that we had a shot at beating last years 3rd quarter numbers and starting to feel the market turning around. Unfortunately I do not think we are going to get the job done this quarter.

Q3 2008 had 25 closed transactions in Sunriver for a total volume of $12.8 million. So far in Q3 2009 we have 7 closed transactions and 17 pending transaction for a total of 25 with an estimated value of $9 million which at this point is likely to be the best we will do this quarter. This assumes that all 17 pending sales close by 9/30/09. The good news is we have the same number of transactions, they just reflect a much lower average sales price.

Q4 2008 had 27 transactions and a total $ volume of $14.4 million, so at this time I would have to estimate that if we do not see a return of the high end buyers before the end of this year we will not start to see year over year increases until Q2 2010.

Central Oregon Million $ market update

Central Oregon like the rest of the country has seen the high end of the Real Estate market moving very slowly. So far in 2009 Central Oregon has 13 closed sales over $1 million and 7 pending sales for an estimated sales value of $26 million. This represents less than 50% of where we were at this time last year. As of the 1st of August 2008 we had close 37 sales for a total of $52 Million.

With the stock market continuing to show improvement and new of the housing market continuing to show improvement we are confident that that the high end buyers will begin to return to the market by next year.

Sunriver Market update for Q2 09

30 days ago I forecasted that we would have 19 closed sales in the 2nd quarter, we had 19 sales. The total value of those sales was $6.3 million. These numbers represent a 66% reduction in volume of business in relation to Q2 08. The average sales price as a % of list price was at 92% which has held steady for the last 2 quarters. We still have not seen any $1 million homes change hands this year in Sunriver.

As for Q3 09 we are starting the quarter with 10 pending deals for a total of $3.3 million. Q3 08 had a volume of $12.5 million and 25 transactions. We have seen an up tick in traffic, so I do think we have a good chance at matching or exceeding that dollar volume this quarter.

Our inventory is up and the prices are the best we have seen in years. Now is the time to buy.

Check out my website at www.benningtonproperties.com/bennington_homes_for_sale.htm

Sunriver Market update for Q2 09

We have seen some new sales come on since my last update. We now have 14 closed sales at an average of about 93% of list price and we have 8 pending deals. Most of the pendings should close by month end and if they do the Quarterly total would be around $7.7 million. That assumes the 93% of list price holds for the pending listings.

Currently in Sunriver we have 202 homes, 54 condos, and 19 lots on the market.

To shop for Central Oregon real estate try our website

www.benningtonproperties.com/bennington_homes_for_sale.htm

High end real estate in Central Oregon

Central Oregon resort market is still slow at the high end. There have been 7 sales over $1 million since the 1st of the year. 3 in Bend, 1 Caldera springs, 1 Pronghorn, 1 Redmond, and 1 in Black Butte.

Current summary of $1 million homes on the Resort market:
Pronghorn - 20
Sunriver - 19
Caldera - 8
Brasada - 8
Crosswater - 8
Black Butte - 8
Tetherow - 3

Lots of good buy, contact me if you would like to get more information on any of these properties or locations. All of these resorts have fantastic golf and we are at the top of the season.