Positive Homes Sales Information

Here's some positive news from Wells Fargo.
Read about it here.

George

Vail Real Estate Sales Booming

First quarter real estate sales continue upward path

Positive first quarter real estate figures in Eagle County showed twice the volume compared with first quarter of 2009.

March saw the highest dollar volume month in over a year with $131 million in sales. This brings 2010 first quarter total to $318,726,934 which is more than twice the numbers of first quarter in 2009.

There were 102 transactions in March bringing the first quarter to 276; again nearly twice that of 2009 through the same period. Fourteen of these transactions were Westin Riverfront sales, totaling more than $6 million.

The high end market continues to move in March. There were 9 properties that each sold for over $5 million totaling $57,669,800.

Three contributing factors for the quick start to the year:

1. Westin Riverfront: 64 sales totaling $37,229,400
2. High end sales: 16 sales have sold for over $4 million, totaling $94,475,000
3. Bank owned sales: 17 totaling $13,578,900

March Highlights:

• 53 Multi-family homes sold for an average sales price of $990,296
• Properties over $2 million accounted for 62% of the total dollar volume
• Eagle County’s overall average sales price was $1,291,187

Aspen Real Estate Market Booming

The Telluride real estate market has historically followed the Aspen and Vail market trends about 6 months in arrears. FYI.

Summary for the month of March

• $103,247,244 total dollar volume, up 120% from March 2009
• 84 total transactions, an increase of 105% from March 2009
• Year to date, through March, dollar volume totals $207,733,603 – a decrease of 23% from the same time period last year
• Through March, transactions total 179, a decrease of 7.25% from the same time last year
• Aspen led the county with 31 transactions, interval sales totaled 14, Snowmass Village reported 13, Basalt reported 4, Old Snowmass reported 3, the remaining 19 transactions were quit claim deeds with an associated document fee
• Aspen’s total dollar volume was $52.37 million, Snowmass Village reported $38.26 million, Old Snowmass $6.587 million, Basalt $3.275 million, Intervals $2.642 million, the remaining $117,912 were quit claim deeds
• There were two notable residential sales for the month, both in Snowmass – one for $10 million and another for $9.04 million
• There were no sales in the month of March with a bank listed as the grantor, there have been 2 thus far in 2010
• The average single family sold price through the month of March is $3,712,121, a decrease of 24% from full year 2009
• The median single family sold price through the month of March is $4,100,000, an increase of 30% from full year 2009
  • Please see page 4 of the PDF for additional information by specific area of the county
• Interval dollar volume totaled $2.642 million, a decrease of 81% from March 2009
• Interval transactions totaled 14, a decrease of 39% from March 2009
• Hyatt Grand Aspen led with $918,000, followed by Timbers with $705,000, Ritz Carlton reported $470,000, St. Regis $350,000, and Sanctuary $199,000
• Hyatt led transactions with 6, Ritz Carlton reported 4, Timbers had 2, St. Regis and Sanctuary rounded out the total, each reporting 1
• Through March, interval dollars total $18,643,975, a decrease of 84% from the same time period last year
• Though March, interval transactions total 37, a decrease of 68% from the same time period last year
  • Recall that in early 2009 there was a lot of activity with both The Residences at Little Nell and Dancing Bear.  Through March of last year, the Nell had a total of 67 transactions and Dancing Bear had 25

Naples Real Estate Market Improving

Naples Real Estate Market Statistics – April

by adeltarealty

in Naples Market Update

The Naples real estate market for the month of March is continuing to show strengthening. The buyer’s market continues, however, it weakening especially since last year.

HOMES:

Homes available for sale, as of March 31 – totaled 3784. Of this total 659 were potential short sales, and 136 were foreclosures. This translates to 10.8 months of inventory (normal market is between 5 and 7 months) versus last year 21.1 months. This statistic most clearer reflects the higher level of sales activity of homes in the Naples area.

A total of 366 homes closed in March. Last March a total of 318 homes were closed.

Pending sales for the month of March was 700 homes versus last March’s figure of 575 homes.

The median sold price for a single family home in the Naples in March was $244000 in a year over year comparison March 2009 saw the median sold price at $177200.

An indicator of future closed sales in addition to the current month’s pending sales, is the total number of pending sales. The total number of pending sales includes not only the current month (700), but also an cumulation of those homes which have not yet closed from previous months. The total pending sales as of the end of March was 1370 homes. Of the 1370 homes, 735 were potential short sales and 185 were foreclosed homes (bank/lender owned).

CONDOS:

Condos available for sale as of March 31 – totaled 4036. Of this total 426 are potential short sale condos and 83 foreclosures. This translates to 14.9 months of inventory versus last year’s 29.9 months.

A total of 377 condos closed in March versus last March where 263 condos were sold.

Pending sales for the month of March was 627 versus last March’s figure of 465.

The median sold price for a condo in the Naples area was $165000 compared to last year’s median of $164000.

The indicator of future closed sales in addition to the current month’s pending sales is the total pending sales. In March a total of 1141 condos were pending sale. Of this number, 529 were potential short sales and 81 foreclosures.

The statistics used for this post were taken from the Sunshine MLS on April 1st using data obtained for the month of March. The March data is primarily at this time, the final statistics are generally available on the fifth business after the end of the previous month.

Luxury Real Estate Prices Still Too High

Buyers are still going to look for the best buys in the best resort locations in the world.........

2010 prediction: Your prices are too high

Over the past few weeks the property media has been awash with predictions for 2010. Most of them will turn out to be wrong. More >